Chinese firms’ forays abroad lift M&As
Print Edition
CHINA’S merger and acquisition market picked up last month, helped partly by outbound deals as Chinese companies accelerated their global expansion, a report said yesterday.
There were 99 M&A transactions in February, including 87 domestic deals, 11 outbound investments by Chinese companies and one deal involving a foreign purchase of Chinese assets, Zero2IPO Research said in a report released today.
The total transaction value surged 93.8 percent month on month to US$7.78 billion in February, overturning a 60 percent drop in January, the firm said, adding that the number of deals fell 14.7 percent in January.
The value of domestic deals rose 11 percent from January to US$4 billion, taking up 51.5 percent of the total, data showed.
Chinese companies made US$3.7 billion in overseas acquisitions to take up 47.7 percent of the total, and growing more than tenfold from January’s US$310 million, the report said.
“The data indicated Chinese companies are accelerating their pace of expanding their global footprint,” said Li Qun, researcher with Zero2IPO.
The biggest outbound deal last month was Jin Jiang International Holdings Co’s purchase of France-based Groupe du Louvre from Starwood Capital Group for US$1.48 billion, followed by the Industrial and Commercial Bank of China’s acquisition of 60 percent in the London-based business of the Standard Bank Plc for US$770 million.
The energy and mineral sector had the most deals at 16, followed by 12 transactions in the property sector.
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