M&A

Chinese SOEs look abroad for acquisition targets

Zijin Mining's $1 billion acquisition of Canada's Continental Gold may be the beginning of a new acquisition wave for Chinese SOEs.

Chinese state-owned enterprises SOEs are gearing up for more outbound MAs next year after suffering an 18% year-on-year drop in the value of acquisition deals in the first half of this year.

Riding on the momentum of Zijin Mining’s $1 billion cash acquisition of Continental Gold last week, Chinese state-owned enterprises are slowly looking again at cross-border MA deals, starting with the mining and energy sector. 

Headquartered in Canada, Continental Gold is a large-scale gold mining company which is developing a high-grade gold project in Antioquia, Columbia. Construction is expected to complete soon and operations should begin in the first quarter. It...

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