Mergers & acquisitions in Asia drop 46% in 2001

Ulhas Joglekar uvj at vsnl.com
Tue Jan 22 17:13:25 PST 2002


Hindustantimes.com

January 20, 2002 Sunday

Mergers & acquisitions in Asia drop 46% in 2001

AFP

Hong Kong , 08-01-2002

The value of announced mergers and acquisition (M&As) activity in Asia excluding Japan and Australia plunged 46 per cent to $ 106 billion in 2001 compared with the previous year, Thomson Financial said on Tuesday.

The number of M&As for the year fell 10 per cent to 3,645 transactions from the year 2000, Thomson said.

It said completed transactions also slumped with 1,715 transactions with an aggregate value of $88.62 billion closing. This is a 41-per cent drop from $ 152.34 billion completed in 2000.

South Korea secured the top spot among other Asian targets announcing a total of $ 19.38 billion, a drop of 34.7 per cent from year 2000's $ 29.67 billion.

Many of the M&As deals arose thanks to the country's continued foreign investment liberalisation, combined with financial sector overhaul and reform, it said.

Singapore ranked second, with announced deals totaling $ 15.76 billion in which much of the total was in government-initiated bank consolidations.

Hong Kong was third with $ 15.53 billion, a 73.2-per cent decline from its $ 58 billion record in 2000.

Singapore was most active of all acquirer nations, finishing off with $ 20.17 billion transaction for the year. Malaysia was second with $ 13.08 billion and the United States with $ 12.1 billion.

Thomson Financial said the banking sector was the most active M&A industry, followed by business services and investment and commodity.

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