M&A value rises 33%
THE total value of mergers & acquisitions in China surged 33 percent in the third quarter from three months earlier to nearly 189 billion yuan (US$29.7 billion), according to a report yesterday.
The three months saw 575 completed M&A deals, the highest so far this year, but details of 487 deals totaling 188.9 billion yuan from July to September, the most since the third quarter last year, were released, according to the report by China Venture.
Deals between Chinese firms dominated the M&A market, with 453 deals worth 138.6 billion yuan inked in the period while 39 deals were closed by Chinese firms buying foreign assets. Foreign firms closed 15 deals in China, the report added.
Manufacturing was the most favored industry for investors with 83 M&A deals, followed by 82 in energy and mining while 53 transactions were sealed in the IT sector, the report added.
The three months saw 575 completed M&A deals, the highest so far this year, but details of 487 deals totaling 188.9 billion yuan from July to September, the most since the third quarter last year, were released, according to the report by China Venture.
Deals between Chinese firms dominated the M&A market, with 453 deals worth 138.6 billion yuan inked in the period while 39 deals were closed by Chinese firms buying foreign assets. Foreign firms closed 15 deals in China, the report added.
Manufacturing was the most favored industry for investors with 83 M&A deals, followed by 82 in energy and mining while 53 transactions were sealed in the IT sector, the report added.
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