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在线翻译:
szdaily -> Business
Private firms become major force of outbound M&A
     2014-October-30  08:53    Shenzhen Daily

    Liu Minxia

    mllmx@msn.com

    SEEKING expansion overseas, private companies have replaced State-owned enterprises (SOEs) to become the major force in the outbound merger and acquisition (M&A) market this year, and they have been looking for more diversified investment opportunities than SOEs, the latest PwC report said.

    Private firms completed 120 M&A transactions in the first three quarters of the year, more than double the number of deals completed by SOEs. The total outbound M&A deal value completed by private firms surged more than 120 percent in the period from a year ago, while the deal value made by SOEs dropped for the first time in years, with a decline of 37 percent, according to the report.

    “With private firms becoming the major force, it is becoming clear that Chinese enterprises are seeking diversification in outbound M&A,” said Andrew Li, PwC China’s advisory services leader in central China. “Unlike SOEs, who mainly target resources-related deals, private firms focus on industries such as high technology, telecommunications and retail to seek more diversified investment opportunities.”

    Chinese companies, especially private firms, are actively seeking quality M&A targets in North America and Europe, aiming to introduce advanced technology and strong brands to China, Li said. Meanwhile, private firms are transferring manufacturing bases from China to other countries in Asia and other emerging markets.

    In total, Chinese firms wrapped up a record 176 M&A deals worth US$40.8 billion in the first three quarters of the year, up 31 percent from a year ago.

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