Total Oil & gas industry cross border M&A deals worth $2.2bn were announced globally in July 2022, led by Tenaris’ $460m acquisition of BENTELER Steel/Tube Manufacturing, according to GlobalData’s deals database.
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The value marked an increase of 704.4% over the previous month of $273.49m and a drop of 47% when compared with the last 12-month average, which stood at $4.15bn.
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 $1.21bn. At the country level, the US topped the list in terms of deal value at $899m.
In terms of volumes, Asia-Pacific emerged as the top region for Oil & gas industry cross border M&A deals globally, followed by Europe and then North America.
The top country in terms of cross border M&A deals activity in July 2022 was the US with four deals, followed by the Canada with three and Italy with three.
In 2022, as of July, Oil & gas cross border M&A deals worth $10.66bn were announced globally, marking an increase of 75.3% year on year.
Oil & gas industry cross border M&A deals in July 2022: Top deals
The top five cross border M&A deals accounted for 84.05% of the overall value during July 2022.
The combined value of the top five Oil & gas cross border M&A deals stood at $1.85bn, against the overall value of $2.2bn recorded for the month.
The top five Oil & gas industry cross border M&A deals of July 2022 tracked by GlobalData were:
1) Tenaris $460m acquisition deal with BENTELER Steel/Tube Manufacturing
2) The $400m acquisition of FSRU I by Snam
3) PAGAC Heisenberg Holding II $339.18m acquisition deal for 68% stake in Handsome Chemical Development
4) The $339m acquisition of Petroteq Energy by Viston United Swiss
5) VAALCO Energy $307m acquisition deal with TransGlobe Energy
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.