The value of mergers and acquisitions in South Korea amounted to 11.2 trillion won ($10.5 billion) in the first six months of this year on the back of mega deals like Daum Kakao Corp., the financial watchdog said Thursday.
There were 82 mergers, spinoffs and business sales in the January-June period, compared with 133 cases worth 11.11 trillion won in the second half of 2013, according to the Financial Supervisory Service.
Over the cited period, M&As in the global market soared 72.8 percent on-year to $1.77 trillion won, setting a fresh record in six years since the 2008 financial crisis, the watchdog added.
The half-year value marked the highest in two years in South Korea, supported by big name mergers including the 3.1 trillion won contract between No. 2 online portal operator Daum Communications Corp. and No. 1 mobile messenger Kakao Corp.
Samsung SDI Co., the world’s top maker of TV displays and smartphone batteries, acquired its electronic and chemical materials affiliate Cheil Industries Co. in a 3.5 trillion won deal.
Due to such mega deals, the average volume of mergers shot up to 267.6 billion won per case, compared with 70.1 billion won and 20.9 billion won in the first and second half of 2013, respectively. (Yonhap)
