China's domestic M&A hits record high

China's private equity-backed M&A recorded a record high in the first half of the year, led by the acquisition of companies in the consumer staples sector, according to data from Thomson Reuters.

Domestic M&A with private equity involvement hit $6.16 billion across 54 deals in the first half to June 20, compared to $4.79 billion across 74 deals during the same period in 2012.

The first half deal value was the highest ever for that time period, according to the data.

The value of consumer staples acquisitions grew more than 10x to $3.7 billion across five deals compared to $332 million across eight deals during the same period in 2012.

The data also noted a huge drop in domestic financial sector acquisitions. In the first half they accounted for $114 million across three deals. During the same period last year, domestic financial sector M&A reached $2.38 billion across nine deals.

China’s top sectors for PE-backed M&A in 2013

 Source: Thomson Reuters

Top domestic PE-backed M&A deals Jan-Jun 2013

 Source: Thomson Reuters