Total oil & gas industry cross border M&A deals worth $6.8bn were announced in Europe in Q3 2022, led by EIG Global Energy Partners’s $4.8bn asset transaction deal for 25% stake in Repsol, according to GlobalData’s deals database.
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The value marked a decrease of 36.3% over the previous quarter and a drop of 56.4% when compared with the last four-quarter average of $15.54bn.
Europe held a 26.28% share of the global oil & gas industry cross border M&A deal value that totalled $25.76bn in Q3 2022. With an 18.63% share and deals worth $4.8bn, Spain was the top country in Europe’s cross border M&A deal value across oil & gas industry.
In terms of deal activity, Europe recorded 63 cross border deals during Q3 2022, marking a decrease of 22.22% over the previous quarter and a drop of 8.70% over the last four-quarter average. The UK recorded nine deals during the quarter.
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Europe oil & gas industry cross border M&A deals in Q3 2022: Top deals
The top five oil & gas industry cross border M&A deals accounted for 90.04% of the overall value during Q3 2022.
The combined value of the top five cross border M&A deals stood at $6.1bn, against the overall value of $6.8bn recorded for the quarter.
The top five oil & gas industry cross border deals of Q3 2022 tracked by GlobalData were:
1) EIG Global Energy Partners’s $4.8bn asset transaction deal for 25% stake in Repsol
2) The $558.07m acquisition of 25% stake in Sol Investments SEZC by Parkland
3) Snam’s $400m acquisition deal with FSRU I
4) The $222.5m asset transaction of Ciner Shipping by SFL
5) KNOT Offshore Partners’s $119m asset transaction deal with Knutsen NYK Offshore Tankers