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Strong rebound in M&As and digital adoption
24 Mar 2022 | Thursday The Star
Malaysia saw 31 merger and acquisition (M&A) transactions involving financial services companies worth US$1.63bil (RM6.88bil) last year after a “slump” in 2020, according to KPMG in a report.
“While M&A activity experienced a minor ‘slump’ in 2020, we observed a steady rebound across all sectors in 2021 that can be attributed to delayed closings and stronger investor confidence,” said KPMG Advisory head Chan Siew Mei in a statement.
“We anticipate this momentum to continue through 2022 even as Malaysia transitions to the endemic phase from April 1.”
One example was the recent transaction that saw Affin Bank Bhd sell its controlling stake in AffinHwang Asset Management Bhd for US$367mil (RM1.55bil) to Luxembourg-based private equity fund CVC Capital Partners.
