Apr. 10, 2012 (China Knowledge) - The number of China
's merger and acquisitions amounted to 204 in the first quarter of this year, down 22.4% year on year or 31.3% quarter on quarter, due to slowing global economy, according to statistics released by Zero2IPO Research Center.
Of the 204 M&A deals, 179 reported total transaction value of US$16.18 billion, 24.6% less than in the same period of last year or 7.2% less than in the fourth quarter of 2011.
About 165 deals with value reaching US$3.94 billion were transacted by domestic enterprises in China
. Although the number of M&As launched by Chinese companies in the overseas market was only 28, the M&As' value hit US$11.61 billion, accounting for over 70% of the total. Overseas firms completed 11 M&As in China
, with value reaching US$627 million.
In the first quarter, the energy and mining industry topped rankings in terms of both the number of M&A cases and transaction value. The sector saw 26 M&A deals with total transaction value of US$10.93 billion in the period, which accounted for 67.6% of the total.
The financial industry came in second with transaction value of US$811 million, followed by US$793 million of the chain store and retail industry.