These Asian Bankers Face $43 Billion Dead Deals After Oil Plunge
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Billionaire Charoen Sirivadhanabhakdi, Thailand’s richest man, who in February abandoned plans to buy control of Singapore builder United Engineers Ltd. after failing to reach agreement on price.
It’s a tough time to be an investment banker in Southeast Asia.
Singapore, the region’s biggest stock market, is having its driest spell in six years with no initial public offering bigger than $25 million in 2015. Mergers involving Southeast Asian companies have dropped 45 percent this year to the lowest level since 2009, bucking a 39 percent rise in the broader Asia Pacific. Adding to the woes, more than a fifth of all acquisitions, or $43 billion worth, announced in the past 12 months were scrapped, data compiled by Bloomberg show…
These Asian Bankers Face $43 Billion Dead Deals After Oil Plunge
