Oil & Gas industry cross border M&A deals total $5.25bn in Europe in December 2020

Total oil & gas industry cross border M&A deals worth $5.25bn were announced in Europe in December 2020, led by PPG Industries‘ $1.52bn acquisition of Tikkurila, according to GlobalData’s deals database.

The value marked an increase of 1375.7% over the previous month of $355.77m and a rise of 390.7% when compared with the last 12-month average of $1.07bn.

Europe held a 31.82% share of the global oil & gas industry cross border M&A deal value that totalled $16.5bn in December 2020. With a 10.85% share and deals worth $1.79bn, Denmark was the top country in Europe’s cross border M&A deal value across oil & gas industry.

In terms of cross border M&A deal activity, Europe recorded 22 deals during December 2020, marking an increase of 69.23% over the previous month and a rise of 15.79% over the 12-month average. The UK recorded seven deals during the month.

Europe oil & gas industry cross border M&A deals in December 2020: Top deals

The top five oil & gas industry cross border M&A deals accounted for 87.6% of the overall value during December 2020.

The combined value of the top five oil & gas cross border deals stood at $4.6bn, against the overall value of $5.25bn recorded for the month.

The top five oil & gas industry cross border M&A deals of December 2020 tracked by GlobalData were:

1) PPG Industries’ $1.52bn acquisition of Tikkurila

2) The $1.36bn asset transaction with Arkema by Trinseo

3) EG Group’s $745.66m asset transaction with OMV

4) The $550m acquisition of KrasGeoNac by Equinor

5) China Development Bank Financial Leasing’s asset transaction with Maersk Product Tankers for $422m.