US attractive for China's M&A capital: report
Updated: 2013-01-31 22:17
By Hu Yuanyuan (chinadaily.com.cn)
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The United States is an attractive destination for Chinese companies seeking mergers and acquisitions, an accounting firm said in a report on Thursday.
"Due to the competitive energy prices in the US, the strong support from local governments and the potential of the consumer market, the US is quite attractive for Chinese investors," said Peng Yali, director of KPMG Global China Practice.
In 2012, there were 40 M&A deals valued at $11.1 billion involving Chinese companies in the US, which after Canada is the second-largest destination for China's M&A capital, according to data from the company.
According to Peng, there are many M&A opportunities in the country’s high-end manufacturing and new-energy sectors.
"However, in the traditional natural resources field such as petroleum, Chinese companies may face more pressure in taking over local firms," said Peter Fung, global chairman of the company.
Chinese investors will be quite active in looking for M&A opportunities in the resources, services, high-tech manufacturing and new-energy industries, the report said.
Also, more Chinese companies will prefer cooperation in overseas M&A, such as the cooperation between State-owned enterprises and private firms, or involving other investors in third-party countries, the report added.
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