M&As by for­eign coun­tries soar in first half

China Daily (Canada) - - NEWSCAPSULE -

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.

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