SINGAPORE (Dec 19): Despite concerns about a slowing economy, 2019 has ticked all the right boxes for Singapore as the city-state hit record-highs in terms of investment banking activities, as well as mergers and acquisitions (M&A). 

According to data collated by Refinitiv, M&A activity in 2019 surged 57.5% y-o-y to US$116 billion ($157 billion), making it the strongest annual period recorded by Refinitiv.  This was led by Blackstone Group’s US$18.7 billion acquisition of GLP’s US logistics assets, which is the largest deal with Singaporean involvement on record.

Singapore-targeted M&A activity came in at US$45.2 billion in terms of deal value, a near double from the previous year. The state was also noted to be the most targeted nation in Southeast Asia, capturing some 40.6% of the total M&A activity in the sub-region. 

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