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Survey finds fall in acquisition deals
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THE number of deals by overseas firms acquiring companies on China’s mainland fell to a decade low amid economic uncertainties in China, a KPMG survey showed yesterday.
Cross-border acquisitions between developed-market acquirers and China’s mainland declined by one third to 52 deals in the first six months of 2014, down from 78 registered a year earlier, according to the latest edition of KPMG’s High Growth Markets International Acquisition Tracker. Hong Kong remains the major acquirer in the mainland’s deal flow, accounting for 32 of 52 deals.
The result is part of KPMG’s global survey that tracks deals between 15 developed and 13 emerging economies, excluding deals backed by government, private equity firms or other financial institutions.
The survey includes data from completed transactions where an acquirer has taken a minimum 5 percent shareholding in an overseas company.
In terms of outbound deals, KPMG said China remains the most active emerging market buyer though the number of deals dropped from last year.
Chinese companies’ acquisition in developed markets dropped 35.2 percent in the first half of 2014 to 35 deals, but it was still ahead of Southeast Asia and India to keep its first place.
“The dynamics of China merging and acquisition continue to change rapidly leading to volatility in quarter-on-quarter data. However, China remains an extremely important market globally, that despite short-term concerns in some specific areas, cannot be ignored longer term,” said Rupert Chamberlain, head of transaction services at KPMG China.
Natural resources and energy remain key outbound targets by Chinese companies, while agribusiness and food sectors continue to see increased activity. Additional deals were also recorded in the telecoms and technology sector as China continues to strengthen its presence in this area.
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