Global auto industry mergers more than doubled to an all-time high of $97.5 billion in 2018 from a year earlier, driven by mega-deals in the automotive parts sector, according to a report released on Thursday by consultancy PwC.
Five mega-deals, worth a combined $42 billion, in the component suppliers segment accounted for 43 percent of the total value of M&As last year as companies invested to keep up with a shift by carmakers into autonomous driving, connected cars and electric vehicles, the report said.
Cross-border M&A activity slowed in 2018 due to increased trade tensions and less focus on geographic expansion, PwC said.
The number of deals worth more than $1 billion, at 20, was the highest ever recorded by PwC, and more than twice the average seen over the previous three years.
The availability of capital and the pace of change in the industry should lead to a strong M&A environment this year despite macroeconomic headwinds, the report said.
Latest Stories
-
We’ll cut down imports and boost consumption of local rice and other products – Mahama
1 hour -
Prof Opoku-Agyemang donates to Tamale orphanage to mark her birthday
2 hours -
Don’t call re-painted old schools brand new infrastructure – Prof Opoku-Agyemang tells gov’t
3 hours -
Sunon Asogli plant will be back on stream in a few weeks – ECG
3 hours -
ECOWAS deploys observers for Dec. 7 election
3 hours -
73 officers commissioned into Ghana Armed Forces
3 hours -
Impending shutdown of three power plants won’t happen – ECG MD
3 hours -
Ghana shouldn’t have experienced any ‘dumsor’ after 2017 – IES Boss
4 hours -
Lamens flouted some food safety laws in re-bagging rice – Former FDA Boss Alhaji Hudu Mogtari
5 hours -
Afcon exit: Our issue is administrative failure and mismanagement, not lack of talent – Saddick Adams
5 hours -
WAPCo to commence major pipeline maintenance and inspection from November 25
5 hours -
CEO of Oro Oil Ghana Limited Maxwell Commey listed among the 100 Most Influential People Awards, 2024
5 hours -
Power crisis: Amandi is off due to maintenance, not debt – ECG Boss
5 hours -
Votes cast for late Akua Donkor to be declared invalid – Electoral Commission
6 hours -
You can’t keep “incompetent” Otto Addo for the long term – Countryman Songo
6 hours