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Energy and mining giants push up China’s M&A deals in July
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MERGERS and acquisitions by Chinese enterprises continued to pick up in July with a significant surge in deal value, thanks to mega transactions among energy and mining companies, an industry report said today.
The number of mergers and acquisitions deals in China rose for a third consecutive month in July to 141, a 38.2 percent rise from a year earlier, information provider Zero2IPO Research said in a report.
The value of 135 deals that have revealed transaction figures totaled US$15.97 billion, surging 424 percent from a year earlier, according to the report.
Energy and mining sectors topped with cases worth US$7.57 billion, accounting for 47.4 percent of the total. This was due to big deals including the buyout of the Las Bambas copper project by a Chinese consortium led by MMG Ltd, the Hong Kong-listed arm of the state-owned copper company China Minmetals Non-Ferrous Metals Ltd, as well as the acquisition of Calgary-based Baccalieu Energy Inc by China Oil and Gas.
In terms of the number of the transactions, the machine manufacturing sector completed the most of 17 deals, followed by 14 in clean technologies and 13 in biotechnology and healthcare, the report said.
Of all, 127 are domestic deals, and 14 are cross-boarder mergers and acquisitions.
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