Credit Suisse Korea has been the top financial adviser in South Korea’s merger and acquisition (M&A) league table this year, powered by the largest pool of manpower among overseas-based investment banks operating in the country.
The Korean unit of the Switzerland-based financial firm topped the list of the M&A league table from January to September this year by leading deals worth 5.58 trillion won ($4.7 billion), according to data released by Maeil Business Newspaper on Thursday. It was followed by Citi Global Market Securities who closed 4.91 trillion won worth deals over the period and Samil PricewaterhouseCoopers (PwC) 4.86 trillion won.
If Credit Suisse keeps up its lead, it would be able to return to the top position in the M&A league table. It had topped in 2016 and 2017, but was elbowed out by Morgan Stanley last year that closed deals worth 9.04 trillion won.
Market experts attributed the sound performance of Credit Suisse to the leadership of Korean unit CEO Lee Chun-kee who are spearheading M&A deals across Asia and the firm’s broad network in the overseas market. It has advised multiple mega deals in Korea so far this year, including SK Broadband’s merger with local cable TV operator T-broad worth 1.5 trillion won, MBK Partner’s takeover of Lotte Card at 1.38 trillion won and SKC’s buyout of copper foil maker KCF Technologies (KCFT) at 1.2 trillion won.
The company also managed Vietnam’s top conglomerate Vingroup’s stake offering worth 1.19 trillion won to Korea’s SK Group and SKC’s sale of stakes in the propylene oxide (PO) producing unit worth 555.5 billion won. It is expected to maintain the top position by the end of this year as it is serving as an advisor for several high-profile deals including sales of the country’s second largest full-service carrier Asiana Airlines, SKC Kolon PI and KDB Life Insurance.
Citi Global Market Securities ranked second by jointly leading some large-scale sales including Lotte Card and Lotte Non-Life Insurance and T-broad. It also advised 1.06 trillion won worth sale of Geo-Young to Blackstone and 600 billion won worth deal for Acuon Savings Bank to Hong Kong-based Baring Private Equity.
Samil PwC was named the top M&A accounting advisor from the January to September period by advising 8.05 trillion worth deals including this year’s biggest takeover of Daewoo Shipbuilding and Marine Engineering by Hyundai Heavy Industries at 2.09 trillion won, SKC’s acquisition of KCFT and KEB Hana Bank’s stake investment worth 1.02 trillion won in Bank for Investment and Development of Vietnam.
By Han Woo-ram and Choi Mira
[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]