JP Morgan tops Korea’s M&A league table in virus-dominated H1

2020.06.26 11:05:45 | 2020.06.26 11:54:34

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JP Morgan Chase topped South Korea’s merger and acquisition (M&A) league table from January to June this year after leading several mega deals in the subdued M&A market under COVID-19 influence.

The Korean unit of the New York-based investment bank topped the list of the M&A league table by closing 3.37 trillion won ($2.8 billion) worth deals in Korea in the first half, according to data released by Maeil Business Newspaper on Thursday.

The company grabbed the No.1 position by advising multiple big deals including the sale of Prudential Life Insurance, the Korean operation of U.S.-based Prudential Financial Inc., at 2.34 trillion won. It also led 530.6 billion won worth sale of Magnachip Semiconductor’s foundry business and Cheungju factory and 502 billion won worth sale of waste treatment firm Korea Environment Technology despite the sluggish deal pipeline due to the impact of COVID-19.

JP Morgan was followed by Goldman Sachs that managed 2.34 trillion won worth deals during the January to June period. Samil PricewaterhouseCoopers (PwC) came third by leading 850.4 billion won worth deals including the 512.4 billion won sale of Kolmarpharma and 140 billion won worth Haitai Icecream. Samsung Securities ranked fourth after advising a consortium backed by SK Hynix in a takeover deal of Manachip Semiconductor’s foundry business.

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Kim&Chang became the No.1 legal advisor by helping 11.86 trillion won worth deals. It advised KB Securities to acquire Prudential Life Insurance and helped Celltrion to take over the primary care business unit in the Asia-Pacific region of Japanese Takeda Pharmaceutical.

Bae, Kim & Lee came second by advising 5.29 trillion won worth deals including 1.36 trillion won worth sale of LG Beijing Twin Tower and 1.34 trillion won worth sale of LG Chem’s LCD unit. It was followed by Shin & Kim with 5.2 trillion won deals and Lee & Ko with 5.17 trillion won.

Samil PwC was named the top M&A accounting advisor in the first half by advising 3.11 trillion won worth deals. It was followed by Samjong KPMG that managed 2.85 trillion won worth deals and Ernst & Young Hanyoung at 2.29 trillion won.

By Han Woo-ram and Choi Mira

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]