Shuanghui deal notable for M&As
Print Edition
The number of merger & acquisition transactions in China surpassed 100 in September and one notable deal was the mega buyout of Smithfield Foods Inc by Shuanghui International Holdings, according to an industry report.
However, the 101 M&A deals in the country last month was flat compared with August, Zero2IPO Research Center said in a report released yesterday.
The 92 deals which revealed transaction value totaled US$10.2 billion, a monthly jump of 133.4 percent or a 334.4 percent surge from a year earlier, the report said.
Of the 101 deals, 94 cases were domestic M&As valued at US$2.8 billion. Six transactions were overseas acquisitions worth US$7.4 billion.
The value of M&As in the food and beverage sector was worth US$7.1 billion, accounting for 69.8 percent of the value of the total deals due to Shuanghui International Holdings Ltd’s purchase of Smithfield Foods Inc, the biggest Chinese purchase of a US firm.
The energy and mineral sector saw the largest number of M&A transactions at 12.
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