Lagos — Middle East and Africa’s metals & mining industry saw a rise of 16.7% in overall deal activity during Q2 2020, when compared to the four-quarter average, according to GlobalData’s deals database.
A total of 28 deals worth $1.44bn were announced for the region during Q2 2020, against the last four-quarter average of 24 deals.
Of all the deal types, M&A saw most activity in Q2 2020 with 26, representing a 92.9% share for the region.
In second place was private equity with two deals, capturing a 7.1% share of the overall deal activity for the quarter.
In terms of value of deals, private equity was the leading category in Middle East and Africa’s metals & mining industry with $1000m, while M&A deals totalled $444.98m.
Middle East and Africa metals & mining industry deals in Q2 2020: Top deals
The top five metals & mining deals accounted for 98.7% of the overall value during Q2 2020.
The combined value of the top five metals & mining deals stood at $1.43bn, against the overall value of $1.44bn recorded for the quarter.
The top five metals & mining industry deals of Q2 2020 tracked by GlobalData were:
– Templar Investments’ $1bn private equity deal with Jindal Shadeed Iron & Steel
– The $300m asset transaction with AngloGold Ashanti by Harmony Gold Mining
Northam Platinum’s $69.04m acquisition of Zambezi Platinum
– The $45m asset transaction with B2Gold and GAMS-Mining F&I by West African Resources
– Hummingbird Resources’ acquisition of Cassidy Gold Guinee for $12.67m