SINGAPORE — Mergers and acquisitions (MA) involving Singapore firms nearly tripled to US$54.4 billion (S$68 billion) during the first half of this year, the highest level since records began in 1983, Thomson Reuters said today (June 25).
The biggest announced deal was Temasek’s agreement to purchase a 24.95 per cent stake in Hong Kong’s AS Watsons for US$5.7 billion.
Other large MA transactions include the US$4 billion pending acquisition of Noble Agri by an investor group comprising China’s COFCO and Hopu Investment, and OCBC’s planned takeover of Hong Kong’s Wing Hang Bank for an estimated value of US$4.95 billion.
DBS Group was the top investment bank during the first half of this year, accounting for 10 MA deals valued at US$14.5 billion. CHANNEL NEWSASIA