4.17 双语阅读

水晶海

亚洲并购市场仍相当活跃

银行家们表示，亚洲并购市场的表现好于欧洲以及北美，主要得益于亚洲地区相对比较容易的融资渠道，以及中国和印度公司的全球扩张行动。

Dealogic提供的数据，自1月初以来，亚太地区的并购交易额已经达到了2365亿美元，比去年同期下降了5.8%。而欧洲和北美的降幅分别为31.8%和37%。

中国以及其他亚洲投资者正在向西方那些备受美国次贷市场崩溃打击的金融服务企业注资。

摩根士丹利(Morgan Stanley)亚太地区并购部门主管埃德•金(Ed King)表示：“在许多亚太市场，当地银行仍在提供并购融资，使得交易更容易顺利完成。”

在那些依赖进口石油、天然气和金属的亚洲国家中，中国公司一马当先，尝试在澳大利亚等大宗商品资源丰富的国家获取资源控制权。中国企业今年的并购总额已经增长了一倍。

印度今年的并购包括塔塔集团(Tata Group)以23亿美元收购福特(Ford)旗下的捷豹(Jaguar)和路虎(Land Rover)品牌。

“亚洲公司已经成熟了，”花旗(Citi)机构客户部门亚太区首席执行官罗伯特•莫尔斯(Robert Morse)说。“仅在几年前，一些令人瞩目的交易几乎是不可想象的。不过，优质的资产负债表、顶级的管理团队以及丰富资金的来源正在推动亚洲公司在全球范围内寻找机会，来扩大他们的业务。”

Dealogic的数据显示，与去年同期相比，亚洲国内并购和入境并购交易额下降了15.3%，而欧洲和北美的降幅分别为34.4%和28.2%。不过，尽管日本最大的制药公司武田制药(Takeda)本月以88亿美元收购美国的千禧制药(Millennium Pharmaceuticals)，但日本并购市场依然疲软，影响到亚洲的表现。

自1月份以来，日本并购交易额已经下降了15.8%。不包括外向交易部分，其降幅为31.2%, 与欧洲和北美的降幅接近。

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水晶海

The mergers and acquisition market in Asia is holding up better than in Europe and North America, underlining easier access to funds in the region and the global expansion drive by Chinese and Indian companies, according to bankers.

Since the start of January, M&A transactions in Asia-Pacific have amounted to $236.5bn, a fall of 5.8 per cent from a year earlier, according to data from Dealogic. By comparison, the M&A declines in Europe and North America are respectively 31.8 per cent and 37 per cent.

Chinese and other Asian investors are injecting capital into Western financial services companies that have been hit by the collapse of the US subprime market.

Ed King, M&A head for Asia-Pacific at Morgan Stan-ley, said: “In a number of Asian markets local banks continue to provide acquisition finance, making it easier for deals to complete successfully.”

Chinese companies are leading an attempt by Asian nations that rely on imports of oil, gas and metals to gain control over resources in commodities-rich countries such as Australia. Chinese M&A volumes have doubled this year.

Acquisitions in India this year include Tata Group's $2.3bn purchase of Jaguar and Land Rover from Ford.

“Asian corporates have come of age,” said Robert Morse, Asia-Pacific chief executive of Citi's institutional clients group. “Some of these headline-grabbing transactions would have been unimaginable just a few years ago. But strong balance sheets, top-class management teams and access to capital are driving Asia Inc to search out opportunities across the globe to grow their businesses.”

For Asia, the value of domestic and inbound transactions has fallen 15.3 per cent from the same period last year, according to Dealogic, compared with falls in Europe and North America of 34.4 per cent and 28.2 per cent respectively. However, Asia's performance has been clouded by the weakness of the Japanese market, in spite of this month's $8.8bn offer from Takeda, Japan's largest pharmaceuticals company, for Millennium Pharmaceuticals of the US.

Since January, the value of Japanese M&A deals has fallen 15.8 per cent. Excluding outbound deals, it is down 31.2 per cent in line with the drop in Europe and North America.