Led by $145.6m asset transaction with Navig8 Chemical Tankers, Asia-Pacific’s oil & gas industry saw a drop of 46.55% in cross border deal activity during Q1 2021, when compared to the last four-quarter average, according to GlobalData’s deals database.
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A total of 31 cross border deals worth $813.42m were announced for the region during Q1 2021, against the last four-quarter average of 58.00 deals.
Of all the deal types, M&A saw most activity in Q1 2021 with 29 deals, representing a 93.6% share for the region.
In second place was private equity with two deals capturing a 6.5% share of the overall cross border deal activity for the quarter.
In terms of value of cross border deals, M&A was the leading category in Asia-Pacific’s oil & gas industry with $763.37m, followed by private equity deals totalled $50.05m.
Asia-Pacific oil & gas industry cross border deals in Q1 2021: Top deals
The top five oil & gas cross border deals accounted for a 44.4% share of the overall value during Q1 2021.
The combined value of the top five cross border deals stood at $361.35m, against the overall value of $813.42m recorded for the quarter.
The top five oil & gas industry cross border deals of Q1 2021 tracked by GlobalData were:
1) CSSC Hong Kong Shipping’s $145.6m asset transaction with Navig8 Chemical Tankers
2) The $71.5m asset transaction for acquisition of Hudson Tanker by Delta Tankers
3) ChrysCapital Management’s $50.05m asset transaction with Safex Chemicals India
4) The $50m asset transaction for acquisition of Suez Fuzeyya And Suez Vasilis Tankers by NGM Energy
5) AVIC International Leasing’s asset transaction with Scorpio Tankers for $44.2m.