China Buys Its Way to Aerospace Growth with M&A Splurge

by swisscham in Consulting, Legal, Services, Tax

China’s ambitions to fast-track the development of its aerospace industry continued to be a key driver of merger and acquisitions (M&A) activity during the second quarter, according to financial advising group PricewaterhouseCoopers (PwC). In a report last week, the group contrasted high levels of M&A activity in the civil aerospace sector with a defense sector where deal-making has slowed in the wake of the U.S. federal government cuts to military spending and the uncertainty prompted by the budget sequestration. So far this year there have been 17 civil aerospace M&A deals each worth more than USD 50 million, with a total value of USD 4.2 billion, compared with just four defense deals totaling USD 1.3 billion, according to PwC. The total value of M&A deals during the second quarter reached USD 4.1 billion, compared with USD 1.9 billion in the first quarter. This included one unspecified “mega-deal” involving a Chinese company and worth USD 1.5 billion alone.

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