Mergers climb in value but cases drop
Source: Xinhua |
July 9, 2013, Tuesday
|
Print Edition
Print Edition
THE transaction value of mergers in China rose 24 percent annually in the first half of the year while the number of cases fell over 10 percent, said a report released by Zero2IPO Research Center yesterday.
Of the 406 mergers, 383 revealed their transaction value at a record high of US$40.34 billion, up 24.1 percent year on year. However, the total number of mergers shrank 10.6 percent from the same period last year, the center said in the report.
Of the mergers, 359 were between domestic companies totalling US$12.74 billion, the report said.
Chinese companies sealed 34 mergers totalling US$17.89 billion overseas while foreign enterprises completed 13 mergers worth US$9.71 billion.
Real estate had the largest number of mergers at 55, followed by the energy and mining sector with 49. But this sector ranked first in value, taking up 43 percent with US$17.34 billion thanks to the US$15.1-billion acquisition of Canadian oil and gas firm Nexen by CNOOC Ltd.
Of the 406 mergers, 383 revealed their transaction value at a record high of US$40.34 billion, up 24.1 percent year on year. However, the total number of mergers shrank 10.6 percent from the same period last year, the center said in the report.
Of the mergers, 359 were between domestic companies totalling US$12.74 billion, the report said.
Chinese companies sealed 34 mergers totalling US$17.89 billion overseas while foreign enterprises completed 13 mergers worth US$9.71 billion.
Real estate had the largest number of mergers at 55, followed by the energy and mining sector with 49. But this sector ranked first in value, taking up 43 percent with US$17.34 billion thanks to the US$15.1-billion acquisition of Canadian oil and gas firm Nexen by CNOOC Ltd.
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