Asia-Pacific’s financial services industry saw a rise of 95.65% in cross border deal activity during June 2021, when compared with the last 12-month average, led by AIALimited’s $1.86bn acquisition of 24.99% stake in China Post Life InsuranceLtd, according to GlobalData’s deals database.
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A total of 45 financial services industry cross border deals worth $4.8bn were announced for the region in June 2021, against the 12-month average of 23 deals.
Of all the deal types, venture financing saw most activity in June 2021 with 27 transactions, representing a 60% share for the region.
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By GlobalDataIn second place was M&A with 14 deals, followed by private equity deals with four transactions, respectively capturing a 31.1% and 8.9% 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 $3.63bn, while venture financing and private equity deals totalled $615.98m and $572.36m, respectively.
Asia-Pacific financial services industry cross border deals in June 2021: Top deals
The top five financial services cross border deals accounted for 65.7% of the overall value during June 2021.
The combined value of the top five financial services cross border deals stood at $3.16bn, against the overall value of $4.8bn recorded for the month.
The top five financial services industry cross border deals of June 2021 tracked by GlobalData were:
1) AIALimited’s $1.86bn acquisition of 24.99% stake in China Post Life InsuranceLtd
2) The $467.37m acquisition deal with CommInsure by Hollard Insurance Group
3) Alkeon Capital, Altos Ventures, Greyhound Capital Europe and Korea Development Bank’s $410m private equity deal of Viva Republica
4) The $257.18m acquisition deal with HDFC ERGO General InsuranceLimited by HDFC Bank
5) IFC Financial Institutions Growth Fund (FIG Fund), Kohlberg Kravis RobertsLP, PLDT and Tencent- Assets’ venture financing of Voyager Innovations for $167m.
