A recently announced transaction for Chartered Semiconductor in Singapore has reaffirmed
Deutsche Bank’s No. 1 spot for M&A in Asia (ex-Japan), based on
Thomson Financial data. The transaction, in which Deutsche is acting as independent financial advisor, will see ATIC (Advanced Technology Investment Company) acquire Chartered Semiconductor for USD 3.1bn – also lifting Deutsche Bank to No. 1 for announced global M&A in the semiconductor space.
The deal follows a string of impressive mandates announced in Asia during 2009. These include MTN’s acquisition of a stake in Bharti Airtel, the largest M&A transaction year-to-date; PetroChina’s 45.5% acquisition of Singapore Petroleum, the largest public takeover in Asia’s integrated oil and gas sector; Kirin’s takeover of Lion Nathan; and AB InBev’s sale of Oriental Brewery to KKR. Deutsche Bank has also advised AIG on six high profile M&A transactions in the region.
The Thomson Financial data (September 10 2009), shows that Deutsche Bank has announced more than USD 30bn of M&A transactions in Asia so far this year and holds a market share of 15%.
Dealogic says that that the Chartered transaction is “the biggest deal in Asia Pacific’s semiconductor sector since early 2000”, noting that it lifts Deutsche Bank to the top spot in this sector globally. Both involved companies have significant government ownership – ATIC is a technology investment company wholly owned by the Government of Abu Dhabi, while Chartered is 62% owned by Temasek, Singapore’s sovereign wealth fund. Announced on 7 September 2009, the deal is subject to shareholder approval.
Deutsche Bank’s Asian M&A ranking comes off the back the bank’s continued focus on its advisory business. It confirms the success of this strategy and leaves the bank well-positioned to further develop trusted, content-led relationships amongst regional clients.
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