Monthly M&A Insider - Mergermarket
Monthly M&A Insider - Mergermarket
Monthly M&A Insider - Mergermarket
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Top deals<br />
Top 15 Greater China announced deals for YTD 31 March 2009<br />
Announced Status Target company Sector Bidder company Seller company Exit multiples (x) Bid premia<br />
Revenue EBITDA P/E<br />
1-day before<br />
14-Jan-09 C Bank of China Limited<br />
(4.26% stake)<br />
16-Mar-09 P Tianjin Port Company<br />
Limited (56.81% stake)<br />
05-Mar-09 P JISCO Yuzhong Iron<br />
and Steel Co Ltd; and<br />
Jiugang Group (steelmaking<br />
assets)<br />
04-Mar-09 P SDIC Electric Power<br />
Co Ltd<br />
Financial<br />
Services<br />
Hopu Investment<br />
Management Co<br />
Transport Tianjin Port<br />
Development<br />
Holdings Ltd<br />
Industrials &<br />
Chemicals<br />
Energy, Mining<br />
& Utilities<br />
05-Feb-09 P Outram Limited Energy, Mining<br />
& Utilities<br />
05-Jan-09 P Rizhao Medium<br />
Section Mill Co Ltd<br />
(30% stake); Rizhao<br />
Steel Co Ltd (30%<br />
stake); and Rizhao<br />
Steel Wire Co Ltd<br />
(25% stake)<br />
23-Jan-09 P Tsingtao Brewery Co<br />
Ltd (19.99% stake)<br />
09-Jan-09 C Aviation Industries<br />
of China (helicopter<br />
business)<br />
20-Mar-09 P Phoenix Precision<br />
Technology<br />
Corporation<br />
02-Mar-09 P Ningbo Iron and<br />
Steel Co Ltd<br />
(56.15% stake)<br />
20-Mar-09 P Shanghai POSCO<br />
E&C Real Estate<br />
Development Co Ltd<br />
26-Mar-09 P YTO Group<br />
Corporation<br />
(undisclosed stake)<br />
10-Mar-09 P “Manzhouli Eastmark<br />
Wooden Products Co<br />
Ltd; Zabaikalskaya<br />
Lesnaya Kompania;<br />
and Universal Timber<br />
Resources Do Brazil<br />
Participacao Ltda”<br />
20-Jan-09 P Mandarin Oriental<br />
Macau<br />
11-Feb-09 P China M (67% stake);<br />
and Sharp Point<br />
Limited (67% stake)<br />
Industrials &<br />
Chemicals<br />
Gansu Jiu Steel<br />
Group Hongxing Iron<br />
and Steel Co Ltd<br />
SDIC Huajing Power<br />
Holdings Co Ltd<br />
Hongkong Electric<br />
Holdings Limited<br />
Kai Yuan Holdings<br />
Limited<br />
Royal Bank of Scotland<br />
Group Plc<br />
Tianjin Port (Group)<br />
Company Limited<br />
Jiuquan Iron & Steel<br />
(Group) Co Ltd<br />
State Development<br />
& Investment<br />
Corporation<br />
Cheung Kong<br />
Infrastructure Holdings<br />
Limited<br />
Mr Qi Shi An and Mr<br />
Zhang He Yi (private<br />
investors)<br />
Greater China<br />
Deal value<br />
($m)<br />
n/a n/a 6.0 -7.6% 2,381<br />
-13.7% 1,807<br />
- 1,026<br />
- 1,024<br />
5.0 - 733<br />
4.9 3.3 - 671<br />
Consumer Asahi Breweries Ltd Anheuser-Busch InBev 1.4 12.7 32.6 37.7% 668<br />
Industrials &<br />
Chemicals<br />
Industrials &<br />
Chemicals<br />
Industrials &<br />
Chemicals<br />
Tianjin Municipal<br />
Government<br />
Unimicron<br />
Technology Corp<br />
Baoshan Iron &<br />
Steel Co Ltd<br />
Real Estate Shanghai Lujiazui<br />
Finance & Trade<br />
Zone Development<br />
Co Ltd; and<br />
Shanghai Lujiazui<br />
Finance & Trade<br />
Zone United<br />
Development Co Ltd<br />
Industrials &<br />
Chemicals<br />
China National<br />
Machinery Industry<br />
Corporation<br />
Agriculture Bright Prosperous<br />
Holdings Limited<br />
Leisure Sociedade de<br />
Turismo e Diversoes<br />
de Macau SA<br />
Business<br />
Services<br />
Telstra Corporation<br />
Limited<br />
Aviation Industries<br />
Corporation of China<br />
Hangzhou Iron and<br />
Steel Group Company<br />
Posco Engineering &<br />
Construction Co Ltd<br />
Loh Jia Yee Katharine<br />
(private investor)<br />
Mandarin Oriental<br />
International Limited;<br />
and Shun Tak Holdings<br />
- 363<br />
0.9 4.6 261.5 -0.9% 360<br />
- 295<br />
n/a n/a - 258<br />
- 249<br />
- 240<br />
- 206<br />
- 198<br />
C = Completed; P = Pending; L = Lapsed Pharma, Medical & Biotech<br />
<strong>Monthly</strong> M&A report – 57
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