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