Chinese M&A in Europe soars

CHINESE companies have bought a record number of European targets so far this year, taking their total spending on M&A to $12.1bn (£7.6bn), data from Dealogic yesterday showed.

Chinese companies made 64 European mergers and acquisitions in the first nine months of this year, up from 47 in the whole of 2010.

German companies were most sought-after, with 14 M&A closing, while France attracted the highest prices, as Chinese firms spent $4.7bn buying eight local companies.

City banker Rothschild topped the list of advisers to Chinese firms.