Led by $1.86bn acquisition of 24.99% stake in China Post Life InsuranceLtd, Asia-Pacific’s financial services industry saw a rise of 32.33% in cross border deal activity during Q2 2021, when compared to the last four-quarter average, according to GlobalData’s deals database.
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A total of 88 cross border deals worth $9.3bn were announced for the region during Q2 2021, against the last four-quarter average of 66.50 deals.
Of all the deal types, venture financing saw most activity in Q2 2021 with 48 deals, representing a 54.6% share for the region.
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By GlobalDataIn second place was M&A with 32 deals, followed by private equity deals with eight transactions, respectively capturing a 36.4% and 9.1% share of the overall cross border deal activity for the quarter.
In terms of value of cross border deals, M&A was the leading category in Asia-Pacific’s financial services industry with $6.79bn, while venture financing and private equity deals totalled $1.61bn and $944.25m, respectively.
Asia-Pacific financial services industry cross border deals in Q2 2021: Top deals
The top five financial services cross border deals accounted for a 54.4% share of the overall value during Q2 2021.
The combined value of the top five cross border deals stood at $5.07bn, against the overall value of $9.3bn recorded for the quarter.
The top five financial services industry cross border deals of Q2 2021 tracked by GlobalData were:
1) AIALimited’s $1.86bn acquisition of 24.99% stake in China Post Life InsuranceLtd
2) The $1.4bn acquisition of 49% stake in Vpbank FinanceLimited by SMBC Consumer Finance
3) DBS Group Holdings’ $813.65m acquisition of 13% stake in Shenzhen Rural Commercial Bank
4) The $532.93m acquisition of 4% stake in SBI Life Insurance by Abu Dhabi Investment Authority, Franklin Templeton Asset Management (India), HDFC Mutual Fund, Kuwait Investment Authority, Norges Bank, SBI Mutual Fund and The Vanguard Group
5) Hollard Insurance Group’s acquisition of CommInsure for $467.37m.
