M&As may rally after cooling off in H1
Print Edition
Merger and acquisition activities cooled in China in the first half of this year amid uncertainty over policy direction, tightening credit and a slowing economy but a recovery in M&A deals is seen in the coming 12 months, an industry report said yesterday.
The number of domestic, inbound and outbound deals fell 5 percent from a peak in the second half of last year to 2,118 in the first six months, while the value shed 6 percent to US$119.5 billion, PricewaterhouseCoopers said in the report.
About 65 percent of the total M&A deals involved Chinese companies.
“Strategic buyers have remained cautious, and we have not seen a rebound in activity in the second quarter after the (national) leadership changes took effect,” said Andrew Li, PwC Central China Advisory leader.
Li sees domestic M&A deals to increase in the coming 12 months as China’s economic restructuring requires consolidation in various industries such as steel.
Roger Liu, PwC China Deal Private Equity Leader, also said PE funds exiting via M&As will drive the number of deals.
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