China M&A Week in Review is SSCO’s weekly summary of deals and key developments in China related Mergers and Acquisitions. Our emphasis is on cross-border deals.
M&A Trends
Inbound M&A
Outbound M&A and Investment
Domestic M&A
M&A Trends
Stock rally drives Chinese M&A deals to record in first half – SCMP, 08/21/2015 M&A involving Chinese companies hit record high in H1 2015 with domestic M&A far outweighing cross border deals. Analysts forecast solid H2 2015 despite China’s broader economic challenges.
中企年内海外并购额超558亿美元逼近去年全年水平预期未来一带一路国家并购增加 – 21世纪经济报, 08/21/2015 TMT related deals contributed to over 40% of Chinese outbound M&A in H1 2015. The U.S., the U.K. and the Netherlands were the Top 3 investment destinations for Chinese acquirers.
Malaysia to benefit from Chinese investors’ overseas investment – HSBC, 08/17/2015 Private Chinese companies are increasingly looking at acquisitions in emerging markets to drive growth. Malaysia is expected to benefit as Chinese outbound investment — driven increasingly by private Chinese companies — target more value-added industry sectors such as agri-business, technology, high-end manufacturing and real estate.
Inbound M&A
FINANCE
StanChart invests in China’s Dianrong.com – FinanceAsia, 08/20/2015 Standard Chartered and others invest $207 million in P2P lender dianrong.com.
Outbound M&A and Investment
FINANCE
中民投再斥资约22亿美元 抢下美国再保险巨头 – 第一财经日报, 08/17/2015 China Minsheng Investment Corp. (CMI) acquires 100% equity share of Sirius International Insurance Group from White Mountains Insurance Group, Ltd. (NYSE: WTM) for US$2.2 billion. Shanghai based CMI announces plan to establish reinsurance centers throughout Asia.
ENERGY
Australia’s Evolution counter-bids China’s Zijin for Phoenix Gold – REUTERS, 08/20/2015 Cross border bid battle between Australia Evolution vs China Zijin for Phoenix Gold. Evolution Mining on Thursday launched a counter bid for fellow Australian miner Phoenix Gold, setting up a battle with China’s biggest gold producer.
TMT
LeTV parent plans more M&A deals – ChinaDaily, 08/21/2015 Le Holdings is looking for acquisition targets in the United States and Southeast Asia. The Chinese conglomerate is active in online media distribution, smartphone and TV manufacturing, sport event management, and electric car development.
Domestic M&A
TMT
美团整体收购酷讯：价位数千万美元 布局在线旅游 – 腾讯科技, 08/17/2015 MeiTuan announces the acquisition of KuXun. , which used to be a subsidiary of the world’s biggest travel community TripAdvisor. MeiTuan is acquiring KuXun, previously a subsidiary of TripAdvisor, to expand its online travel and tourism services business.