Total oil & gas industry cross border M&A deals worth $2.12bn were announced globally in March 2021, led by Validus Energy’s $880m asset transaction with Ovintiv, according to GlobalData’s deals database.
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The value marked a decrease of 65% over the previous month of $6.05bn and a drop of 70.4% when compared with the last 12-month average, which stood at $7.16bn.
Comparing cross border M&A deals value in different regions of the globe, North America held the top position, with total announced deals in the period worth $886.67m. At the country level, the US topped the list in terms of deal value at $886m.
In terms of volumes, Europe emerged as the top region for oil & gas industry cross border M&A deals globally, followed by North America and then Asia-Pacific.
The top country in terms of cross border M&A deals activity in March 2021 was the US with eight deals, followed by the UK with six and Singapore with six.
In 2021, as of March, oil & gas cross border M&A deals worth $15.33bn were announced globally, marking an increase of 111.1% year on year.
oil & gas industry cross border M&A deals in March 2021: Top deals
The top five cross border M&A deals accounted for 90.5% of the overall value during March 2021.
The combined value of the top five oil & gas cross border M&A deals stood at $1.92bn, against the overall value of $2.12bn recorded for the month.
The top five oil & gas industry cross border M&A deals of March 2021 tracked by GlobalData were:
1) Validus Energy’s $880m asset transaction with Ovintiv
2) The $463.82m acquisition of Tulip Oil Netherlands by Kistos
3) ICL Group’s $400.61m acquisition of Compass Minerals America Do Sul Industria E Comercio
4) The $132.13m asset transaction with Team Tankers Deep Sea by Torm
5) Sole Shipping’s asset transaction with Unicorn Shipping for $42.8m.
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.