China offshore acquisitions set for liftoff

China’s protracted leadership change held back offshore acquisitions in the first half of the year but interest is now picking up.
China Construction Bank bought Brazil’s Banco Industrial e Comercial (BicBanco)for about $730 million in cash.
China Construction Bank bought Brazil’s Banco Industrial e Comercial (BicBanco)for about $730 million in cash.

Chinese company demand for offshore assets wavered slightly in the first half of the year due to the country's protracted political transition and its tight banking conditions but it is now beginning to pick up again.  

“There was a lot of wait-and-see earlier this year,” said David Brown, China and Hong Kong transaction services leader at PwC. “People were waiting for the leadership transitions to be known and take effect and didn't want to commence transactions. And, after the new government had taken over, there was uncertainty over the policy direction and a tightening of liquidity,” he said.

Chinese mergers and acquisitions generates the lion’s...

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