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People's Daily Online>>China Business

Transaction value of mergers increases in February

By Dou Hongmei (Beijing Daily)

16:51, March 06, 2012

Edited and translated by People's Daily Online

About 62 mergers and acquisitions were completed in China's market in February, according to data released by the Zero2IPO Research Center. The transaction values of 56 disclosed cases totaled more than 6.47 billion U.S. dollars and the average value hit 116 million U.S. dollars.

The number of the merger and acquisition increased 17 percent compared to January, and the total transaction value increased 114.8 percent.

According to analyses, the energy and mineral industries took the lead in the merger and acquisition market in February. In these two areas, 16 cases were completed in February and the total transaction value was about 4.48 billion U.S. dollars, accounting for 25.9 percent and 69.1 percent of the totals of February, respectively.

On February 21, the China National Offshore Oil Corporation purchased the equity of some of the Tullow Oil Company's exploration areas in Uganda with the largest transaction value in February.

In Addition, in the financial realm, the Industrial and Commercial Bank of China purchased 80 percent of the equity of the Standard Bank Argentina and its related companies, and the total transaction value of the case was about 600 million U.S. dollars.


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