Lagos — 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, according to GlobalData’s deals database.
The value marked an increase of 450% 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% share of the global oil & gas industry cross border M&A deal value that totalled $20.43bn in Q4 2020. With an 8.81% 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% over the previous quarter and a rise of 25.45% over the last four-quarter average. The UK recorded 11 deals during the quarter.
Europe oil & gas industry cross border M&A deals in Q4 2020: Top deals
The top five oil & gas industry cross border M&A deals accounted for 74.6% 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 $6.16bn 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.