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Chinese firms will increase overseas M&A: RBS survey

By Bi Xiaoning (chinadaily.com.cn)
Updated: 2009-03-05 14:43

Chinese companies will increase overseas mergers and acquisitions in the next 12 months as the economic downturn presents opportunities, according to a survey from Royal Bank of Scotland (RBS).

Related readings:  Non-financial acquisitions may increase this year  China's cross-border M&A dropped by 30% in 2008  China all alone in Asian M&A growth  Global M&A falls in 2008, 5-year growth ends

The survey of 106 respondents from China showed 63 percent expected the level of Chinese outbound M&A to increase, with businesses in Asia, North America and Europe identified as the targets.

"Chinese corporations remain eager to expand through global acquisitions. This is part of a continuation of a longer-term trend and for which the current difficult global economic environment presents opportunities," said Michael Bracken, managing director with corporate finance group Asia at RBS.

In terms of deal size, 63 percent of respondents said the bulk of acquisitions would occur within the "mid-market" range, less than $500 million.