(
Xinhua)
08:15, October 30, 2012
SHANGHAI, Oct. 29 (Xinhua) -- Cross-border mergers and acquisitions have climbedsteadily in China since 2007, with the announced transaction value rising from 13.58billion U.S. dollars to 93.09 billion U.S. dollars in 2012, according to a Monday reportfrom China Venture, a research and consulting institute.
Chinese enterprises have completed 134 mergers and acquisitions overseas in 2012,with the transaction value at 23.42 billion U.S. dollars, according to the report.
The energy and mining businesses have registered the largest number of transactions,with 36 transactions totaling 14.7 billion U.S. dollars in value, the report showed.
An extended period of economic stagnation lowered valuations of foreign enterprises,giving shareholders incentive to sell stakes, while a booming China is in increasingneed of resources and technologies, which has led to waves of cross-bordertransactions, said Wan Ge, an analyst with China Venture.
Foreign companies have also pursued expansions by taking over Chinese firms, withthe value of transactions rising from 1.76 billion U.S. dollars in 2008 to 8.81 billion U.S.dollars in 2011.
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