Audio By Carbonatix
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
-
Police arrest suspect in murder of Officer at Zebilla
55 seconds -
SUSEC–Abesim and Adomako–Watchman roads set for upgrade in Sunyani
31 minutes -
CDD-Ghana calls for national debate on campaign financing
1 hour -
INTERPOL’s decision on Ofori-Atta: What it means for his U.S. bond hearing and the legal road ahead
1 hour -
Parties can use filing fees to cover delegates’ costs, end vote-buying – Barker-Vormawor
1 hour -
Boxing in Bukom: Five months without the bell
1 hour -
Political parties can end vote-buying by disqualifying offenders – Barker-Vormawor
2 hours -
Ministry of Gender investigates alleged sharing of intimate videos by foreign national
2 hours -
Cocoa must be treated as business, not politics- Nana Aduna II
2 hours -
Barker-Vormawor urges scrutiny of COCOBOD reforms, warns of continued debt burden
3 hours -
Prince Adu-Owusu: Beyond flowers and grand gestures — How do you want to be loved?
3 hours -
Multiple vehicles burnt as fuel tanker explodes on Nsawam-Accra highway
3 hours -
Former COCOBOD administration spent syndicated loans on themselves, not farmers – Inusah Fuseini
3 hours -
Mahama vows to end export of raw mineral ores by 2030, shifts focus to local processing
4 hours -
Mahama meets UN Chief, discusses African security & democracy.
4 hours