Asia-Pacific’s financial services industry saw a rise of 14.29% in cross border deal activity during December 2020, when compared with the last 12-month average, led by Allianz’s $533.65m acquisition of Westpac General Insurance and Westpac General Insurance Services, according to GlobalData’s deals database.
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A total of 24 financial services industry cross border deals worth $1.64bn were announced for the region in December 2020, against the 12-month average of 21 deals.
Of all the deal types, M&A saw most activity in December 2020 with 14 transactions, representing a 58.3% share for the region.
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By GlobalDataIn second place was venture financing with nine deals, followed by private equity deals with one transactions, respectively capturing a 37.5% and 4.2% share of the overall cross border deal activity for the month.
In terms of value of cross border deals, M&A was the leading category in Asia-Pacific’s financial services industry with $1.58bn, followed by venture financing deals totalled $65.84m.
Asia-Pacific financial services industry cross border deals in December 2020: Top deals
The top five financial services cross border deals accounted for 93% of the overall value during December 2020.
The combined value of the top five financial services cross border deals stood at $1.53bn, against the overall value of $1.64bn recorded for the month.
The top five financial services industry cross border deals of December 2020 tracked by GlobalData were:
1) Allianz’s $533.65m acquisition of Westpac General Insurance and Westpac General Insurance Services
2) The $420m acquisition deal with Westpac Bank PNG and Westpac Banking by Kina Securities
3) Beijing State-owned Capital Operation and Management Center’s $329.35m acquisition of Beijing Rural Commercial Bank
4) The $205.29m asset transaction with National Australia Bank by Partners Life
5) Beijing Weimeng Chuangke Investment ManagementLimited’s acquisition of Jinhua Ruian Investment ManagementLimited for $39.11m.
