|
|
Domestic M&As up sharply in first half |
 |
+ |
- |
09:44, July 18, 2007 |
The number of China''''s domestic mergers and acquisitions (M&As) jumped in the first half of the year as funds raised in buoyant equity markets were put to use to consolidate fragmented industries, analysts said yesterday.
Domestic deal volumes grew from 317 in the first six months of 2006 to 454 in the first half of 2007, according to data by the industry journal M&A Asia.
"With all the attention on China''''s overseas acquisitions, it is often forgotten that many Chinese companies have attractive and immediate acquisition opportunities at home at the moment," said Gabriel Wong, a corporate finance partner of PricewaterhouseCoopers (PwC), an international accounting firm.
M&A Asia statistics also show that combined incoming and domestic deals in China increased by 20 percent to 808 in the first six months of 2007.
Total value of the disclosed deals in the first six months fell slightly, however, to $27.6 billion compared to $29.4 billion last year.
"Deal value is particularly difficult to interpret because there are many large one-off transactions, such as sales of assets by State-owned groups to listed parents and backdoor listings," said Zhao Liang, director of PwC''''s transactions strategy team.
[1] [2]
|
|
|
Comment
Tell A Friend
Print Format
Save Article