BAKU, Azerbaijan, March 2
By Leman Zeynalova – Trend:
Europe’s oil and gas industry marked almost 28 percent increase in cross-border deals in the fourth quarter of 2020, Trend reports citing GlobalData.
The top five oil & gas industry cross border merger and acquisition (M&A) deals accounted for 74.6 percent of the overall value during Q4 2020.
The combined value of the top five cross border M&A deals stood at $4.6bn, against the overall value of $6.16 billion recorded for the quarter.
The top five oil & gas industry cross border deals of Q4 2020 tracked by GlobalData were:
PPG Industries’ $1.52bn acquisition of Tikkurila
The $1.36bn asset transaction with Arkema by Trinseo
EG Group’ $745.66m asset transaction with OMV
The $550m acquisition of KrasGeoNac by Equinor
China Development Bank Financial Leasing’s asset transaction with Maersk Product Tankers for $422m.
Total oil & gas industry cross border M&A deals worth $6.16bn were announced in Europe Q4 2020, led by PPG Industries’ $1.52bn acquisition.
The value marked an increase of 450 percent over the previous quarter and a rise of 52.1% when compared with the last four-quarter average of $4.05bn.
Europe held a 30.15 percent share of the global oil & gas industry cross border M&A deal value that totalled $20.43bn in Q4 2020. With an 8.81 percent share and deals worth $1.8bn, Denmark was the top country in Europe’s cross border M&A deal value across oil & gas industry.
In terms of deal activity, Europe recorded 69 cross border deals during Q4 2020, marking an increase of 27.78 percent over the previous quarter and a rise of 25.45 percent over the last four-quarter average. The UK recorded 11 deals during the quarter.
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