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  1. Deals Analysis
April 27, 2021

Europe’s oil & gas industry saw a rise of 19.05% in cross border deal activity during March 2021

By Carmen

Europe’s oil & gas industry saw a rise of 19.05% in cross border deal activity during March 2021, when compared with the last 12-month average, led by Kistos’ $463.82m acquisition of Tulip Oil Netherlands, according to GlobalData’s deals database.

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A total of 25 oil & gas industry cross border deals worth $599.54m were announced for the region in March 2021, against the 12-month average of 21 deals.

Of all the deal types, M&A saw most activity in March 2021 with 20 transactions, representing an 80% share for the region.

In second place was private equity with four deals, followed by venture financing deals with one transactions, respectively capturing a 16% and 4% share of the overall cross border deal activity for the month.

In terms of value of cross border deals, M&A was the leading category in Europe’s oil & gas industry with $527.97m, while private equity and venture financing deals totalled $66.85m and $4.72m, respectively.

Europe oil & gas industry cross border deals in March 2021: Top deals

The top five oil & gas cross border deals accounted for 96% of the overall value during March 2021.

The combined value of the top five oil & gas cross border deals stood at $575.42m, against the overall value of $599.54m recorded for the month.

The top five oil & gas industry cross border deals of March 2021 tracked by GlobalData were:

1) Kistos’ $463.82m acquisition of Tulip Oil Netherlands

2) The $66.85m private equity deal with Circa Group by BNP Paribas Energy Transition Fund, Delphi Fondene, DNB Asset Management, Fourth Swedish National Pension Fund, Handelsbanken Fonder, Norske Skogindustrier, Pareto Securities, Robeco Asset Management Spain and SpareBank one Markets

3) OceanPact Netherlands’ $18m asset transaction with DDW Offshore

4) The $17.5m acquisition of Sulzer Wood by Sulzer

5) S.D. Standard Drilling’s asset transaction with Noble Corporation for $9.25m.

Related Companies

Verdict deals analysis methodology

This analysis considers only announced and completed cross border deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.

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