M&As by foreign countries soar in first half
Mergers and acquisitions by foreign countries in China soared during the first six months of the year, according to a report.
Foreign firms clinched deals worth $12.5 billion during the first six months of the year in China, up from around $8.4 billion in the second half of 2013, the report by PricewaterhouseCoopers said.
PwC’s Roger Liu said the momentum in the first half was provided by Singapore-based Overseas-Chinese Banking Corp Ltd’s $5 billion acquisition of Wing Hang Bank. “Other than that, Europe is still the main source of foreign strategic buyers in China,” he said.
On the other hand, China’s outbound M&A activity continued to track close to the elevated levels seen in the second half of 2013, though it did not exceed the peak seen last year.