Mergers and acquisitions in the Asia-Pacific region fell to a decade low in the first three months of this year as a tumultuous geopolitical and macroeconomic environment left dealmakers cautious. | Reuters
The collapse of Silicon Valley Bank and rescue of Credit Suisse Group AG added to the negative sentiment even without directly impacting Asian dealmaking, advisors said.
“A lower dollar makes Australia attractive if you are operating out of the U.S. in particular,” said Paul Rathborne, head of investment banking at MA Moelis Australia.“Australia is seen as a relatively stable, benign place to invest at present. You will always have a good level of inbound for certain types of businesses,” Rathborne said. Australia-listed firms are of interest to offshore funds as they trade at a material discount to equivalent businesses in Europe, he said.
Asian transactions backed by private equity, the region’s major deal driver, fell 33 percent to $36 billion, the data showed. Total unspent private equity capital in the region rose 20 percent last year to a high of $676 billion, Bain & Co said.
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