Morgan Stanley Leads Asia Pacific 2001 M&A League Tables
Morgan Stanley topped the Asia Pacific M&A league tables for 2001 according to Thomson Financial Securities Data.
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Morgan Stanley topped the Asia Pacific M&A league tables for 2001 according to Thomson Financial Securities Data. (The rankings are based on announced and completed deals by transaction value.)
During the last year, the Firm advised on 40 deals across non-Japan Asia and Australasia with an aggregate value of US$33.8bn, representing a 22.6% market share.
Morgan Stanley placed ahead of JP Morgan Chase (US$33.2bn, 22.2% market share) and Merrill Lynch (US$27.7bn, 18.6% market share). Goldman Sachs ranked fourth with US$14.7bn and 9.9% of announced transactions.
Morgan Stanley dominated deals involving companies in Singapore, one of the region's key M&A markets. The Firm advised on SingTel's US$10bn acquisition of Cable & Wireless Optus, OUB's US$5.5bn merger with UOB and Guoco Group's sale of a majority stake in Dao Heng Bank to DBS Bank.
Other Singapore deals included the sale of Omni Industries to Canada's Celestica Inc., Raffles' acquisition of Swissotel Holding and the sale of Hansol Paper's one-third stake in Pan Asia Paper to Abitibi and Norske Skog.
Since foreign companies were able to take controlling interests in corporations of China, 2001 was also a watershed year for M&A in that country. Morgan Stanley advised Huawei on the sale of Avansys to Emerson Electric, China's first full control sale of a private enterprise to a foreign company.
Other significant mainland deals for Morgan Stanley included Sinopec's acquisition of National Star, the sale of an 8% stake in China Aluminum Corporation (Chalco) to Alcoa and Alcatel's acquisition of a controlling interest in Shanghai Bell.
Other notable Morgan Stanley deals completed in the region in 2001 include Mayne-Nickless' US$1.4bn hostile bid for FH Faulding in Australia, and share buybacks for Hong Kong & China Gas and the Guoco Group in Hong Kong.
In India, Morgan Stanley advised on Birla AT&T's tie-up with BPL Communications and the merger of ICICI Limited into ICICI Bank to form India's second largest commercial bank. Announced deals include the US$2.6bn acquisition of Daewoo Motor by General Motors and Daewoo Motor creditors.
The Asia Pacific MARD team dominated the M&A industry awards in the Region. Awards included:
- 'Best M&A House' by Finance Asia and The Asset
- 'Best M&A Deal' for UOB's acquisition of OUB by Asiamoney and The Asset
- 'Best Cross-border M&A Deal' for Huawei's sale of Avansys to Emerson Electric by Finance Asia and The Asset
- Four out of ten 'Deals of the Year' awarded by CFO Asia for DBS' acquisition of Dao Heng Bank from Guoco Group, Huawei Technologies' Sales of Avansys to Emerson Electric, SingTel's acquisition of C&W Optus, and UOB's acquisition of OUB
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