China: Q4 track to be the second biggest quarter on record for M&A outflow – RBC CM
|Sue Trinh, Senior Currency Strategist at RBC Capital Markets, suggests that the China’s Q4 is on track to be the second biggest quarter on record for Chinese M&A outflow.
Key Quotes
“With Chinese conglomerate HNA Group announcing earlier this week it plans to buy a roughly 25% stake in Hilton Worldwide Holdings for USD$6.5bn in an all cash deal. This takes HNA’s announced M&A outflow to USD40bn since July 2015. Ongoing capital outflows is one factor behind RBC’s long standing target for USD/CNY to hit 6.95 at the end of this year and 7.5 in 2017.”
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