The hunt for western assets continues apace for emerging market companies. Last month, China Petrochemical Corporation (Sinopec) announced its intention to buy Swiss rival Addax for $7.2 billion.
If the Sinopec deal is included, the total value of announced emerging markets’ acquisitions of western targets up to the end of June is $52.5 billion, according to Dealogic. Although the final value for this year is unlikely to match the $153.7 billion of 2008, it is on course to match, if not beat, the $104.8
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