M&A activity reaches record high
Print Edition
CHINA’S mergers and acquisitions hit a record high last year both in the number of deals and their total value. They were driven by real estate, technology, consumer-related and financial services sectors, PricewaterhouseCoopers said.
The number of domestic, outbound and inbound deals jumped 55 percent from a year earlier to 6,899, while the value of all deals rose 55 percent to US$407.2 billion, both record highs since PwC started to compile the data in 2008.
“Strategic M&A activity showed very strong performance across all categories throughout the year,” said Roger Liu, PwC Chinese mainland and Hong Kong deals private equity leader.
“Ongoing consolidation as China’s domestic economy matures was a key driver. There were also some sizeable deals in foreign-inbound strategic M&A, particularly in banking and financial services.”
Technology, consumer-related and financial services were important sectors, partly reflecting the development of the broader economy, PwC said, adding that real estate remained the biggest single sector by value.
On outbound investment, state-owned companies completed deals whose value was 29 percent less than in 2013, while private companies increased their investment by the same figure. SOEs continued to do deals in resources and energy sectors, while private companies sought out technologies and brands to bring back to the China, PwC said.
It said private equity funds and financial buyers doubled their investment in M&A from 2013 to US$73 billion.
PwC said M&A activity will continue to prosper this year as SOE reform will continue to feed domestic transactions, private companies will lead the outbound charge, and private equity funds will take part in all types of M&A activity.
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