Deal count in the Asia-Pacific in August surged to the highest monthly level year to date, driven by robust activity in the technology, media and telecommunications sector.
Companies announced a total of 811 M&A deals in the region last month, the highest monthly tally since January and representing an 8.1% year-over-year increase. The technology, media and telecommunications sector led with the highest number of deals at 138 or about 17% of the total count, followed closely by the industrial sector with 128 deals.
The region's consumer sector contributed 125 deals in August, while healthcare companies announced 48 deals.
Meanwhile, mainland China remained the busiest market for M&A in August, adding 203 deals or 25% of the region's total, Market Intelligence data shows. Japan came in second with 158 deals, while India and Australia had 123 and 114 deals, respectively.
Billion-dollar deals
The aggregate transaction value of all Asia-Pacific M&A deals in August rose to $37.34 billion from $36.90 billion a year ago, thanks to multiple billion-dollar deals. The monthly value, however, was lower compared to the previous month.
India's Gujarat Gas Ltd. stood out with two billion-dollar M&A deals, which together accounted for about 18% of the aggregate transaction value. As part of a scheme of arrangement, Gujarat Gas announced the acquisition of Gujarat State Petroleum Corp. Ltd. for $3.45 billion and Gujarat State Petronet Ltd. for $3.28 billion. The scheme is expected to be completed by August 2025.
Three more billion-dollar deals were announced in August. South Korea's IMM Private Equity Inc. and IMM Investment Corp. struck a $2.84 billion deal to acquire Ecorbit CO. Ltd., the nation's largest landfill firm, from TY Holdings Co. Ltd. and others.
In China's electric vehicle sector, Seres Group Co.Ltd. unit Chongqing Jinkang New Energy Automobile Co. Ltd. agreed to buy a 10% stake in Shenzhen Yinwang Intelligent Technology Co. Ltd. from Huawei Technologies Co. Ltd. for $1.61 billion. Huawei Technologies also agreed to sell an additional 10% stake in Shenzhen Yinwang Intelligent Technology, the company's smart car unit, to Chongqing Changan Automobile Co. Ltd. unit Avatr Technology Co Ltd. for $1.60 billion.
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