Deal maker Li Ka-shing and son Victor push CK Hutchison group of companies to the top of the league for advisory fees in Asia
- CK Hutchison and sister company CK Asset Holdings ranked as top advisory fee-paying companies with a tab of US$126.9 million since 2015
Li Ka-shing, the Hong Kong tycoon known affectionately as “Superman” for his deal making prowess, was the biggest patron of investment banks and takeover consultants, with his flagship companies paying as much as US$126.9 million in fees in the past five years, according to a report by data provider Dealogic.
The two listed flagships, CK Hutchison and sister company CK Asset Holdings, chaired by Victor Li Tzar-kuoi who took up the roles after his father retired in May last year, together with their listed units Cheung Kong Infrastructure and Power Assets Holdings, paid advisory fees of US$126.9 million related to 21 acquisitions and asset sales since 2015. This is based on the calculations of announced deals, including debts, worth US$150 billion.
Chinese airline-to-finance conglomerate HNA Group, which is selling assets to cut debt, was in the No 2 slot with advisory fees totalling US$115.6 million relating to 40 deals worth US$32.7 billion during the five-year period.
China National Chemical Group, Alibaba Group Holding and China Resources ranked in the third, fourth and fifth places respectively by advisory fees.
Merger and acquisition activity in the Asia-Pacific region softened to its slowest pace in five years in the first quarter, according to financial data provider Refinitiv. The value of announced deals, including net debt, amounted to US$186.7 billion, a 33 per cent decline from US$280.4 billion last year and the worst first quarter since 2014.
April was not much better, with M&A activity in Asia-Pacific totalling US$55.3 billion, the lowest total for the month since 2013, according to Refinitiv.
