M&A picks up pace in Asia Pacific
By Michael Flaherty |
July 6, 2010, Tuesday
|
Print Edition
Print Edition
A BURST of corporate acquisition activity in Asia shows that executives throughout the region are gaining confidence in their financial outlook and expansion strategy, with cross-border deals on the upswing.
Asia Pacific M&A, excluding Japan, rose 78 percent last quarter, according to Thomson Reuters, with emerging market acquisitions now one-third of total deal volume.
While the largest transactions still mainly originate in the United States and Europe, recent deals have come from places like China, the Middle East, and Southeast Asia.
Asia's M&A activity received a boost yesterday with four Australian deals totaling more than US$4 billion with buyers from Thailand, Singapore, China and Korea.
"What I think you will see over time is a steady increase in confidence of Asian players to go outside and do deals and not just in the West but emerging markets as well, such as Africa," said David Timblick, CEO of Lazard Asia, speaking at the London School of Economic's Asia Investment Banking conference in Singapore yesterday.
Australia's Centennial Coal Co Ltd agreed to a A$2 billion (US$1.69 billion) takeover offer from Thailand's Banpu Public Co Ltd, while Anglo American sold five Australian coal fields worth A$488 million to a South Korean consortium.
On top of those deals, Singapore's Wilmar International Ltd agreed to buy CSR's sugar business for US$1.5 billion, while Australian pallet maker Loscam Ltd said it had been sold to Hong Kong-based ports operator China Merchants Group.
"I think Asia M&A volumes will surpass the US and Europe," said Ronnie Behar, Credit Suisse's co-head of mergers and acquisitions for Asia, excluding Japan.
He cited power asset auctions in Singapore where the buyers were Chinese, Malaysian and Japanese.
Asia Pacific M&A, excluding Japan, rose 78 percent last quarter, according to Thomson Reuters, with emerging market acquisitions now one-third of total deal volume.
While the largest transactions still mainly originate in the United States and Europe, recent deals have come from places like China, the Middle East, and Southeast Asia.
Asia's M&A activity received a boost yesterday with four Australian deals totaling more than US$4 billion with buyers from Thailand, Singapore, China and Korea.
"What I think you will see over time is a steady increase in confidence of Asian players to go outside and do deals and not just in the West but emerging markets as well, such as Africa," said David Timblick, CEO of Lazard Asia, speaking at the London School of Economic's Asia Investment Banking conference in Singapore yesterday.
Australia's Centennial Coal Co Ltd agreed to a A$2 billion (US$1.69 billion) takeover offer from Thailand's Banpu Public Co Ltd, while Anglo American sold five Australian coal fields worth A$488 million to a South Korean consortium.
On top of those deals, Singapore's Wilmar International Ltd agreed to buy CSR's sugar business for US$1.5 billion, while Australian pallet maker Loscam Ltd said it had been sold to Hong Kong-based ports operator China Merchants Group.
"I think Asia M&A volumes will surpass the US and Europe," said Ronnie Behar, Credit Suisse's co-head of mergers and acquisitions for Asia, excluding Japan.
He cited power asset auctions in Singapore where the buyers were Chinese, Malaysian and Japanese.
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