Bain Capital Private Equity and Cinven’s $4.67bn private equity deal with Lonza was the oil & gas industry’s biggest cross border deal of Q1 2021 as cross border deals worth $20.4bn were announced globally in the quarter, according to GlobalData’s deals database.
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The value marked a decrease of 41.9% over the previous quarter and a drop of 13.6% when compared with the last four-quarter average of $23.62bn.
In terms of number of cross border deals, the sector saw a drop of 19.90% with 166 deals in Q1 2021 against the average of 207.25 deals in the last four-quarters.
In value terms, Europe led the activity with cross border deals worth $7.85bn.
oil & gas industry cross border deals in Q1 2021: Top deals
The top five oil & gas industry cross border deals accounted for 66.5% of the overall value during Q1 2021.
The combined value of the top five cross border deals stood at $13.56bn, against the overall value of $20.4bn recorded for the quarter.
The top five oil & gas industry cross border deals of Q1 2021 tracked by GlobalData were:
1) Bain Capital Private Equity and Cinven’s $4.67bn private equity deals with Lonza
2) The $3.1bn acquisition of Hygo Energy Transition by New Fortress Energy
3) PTTEP Mena’s $2.59bn asset transaction with BP Exploration (Epsilon)
4) The $1.9bn acquisition of Golar LNG Partners by New Fortress Energy
5) NEO Energy’s asset transaction with Exxon Mobil for $1.3bn.