Oil & Gas industry cross border M&A deals total $700.6m in Europe in April 2021

Total oil & gas industry cross border M&A deals worth $700.6m were announced in Europe in April 2021, led by $389.92m merger of Navigator Holdings and Ultragas, according to GlobalData’s deals database.

The value marked an increase of 32.7% over the previous month of $527.97m and a drop of 65.7% when compared with the last 12-month average of $2.04bn.

Europe held a 24.33% share of the global oil & gas industry cross border M&A deal value that totalled $2.88bn in April 2021. With a 14.77% share and deals worth $425.51m, the UK 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 April 2021, marking a flat growth over the previous month and a rise of 10.00% over the 12-month average. The UK recorded six deals during the month.

Europe oil & gas industry cross border M&A deals in April 2021: Top deals

The top five oil & gas industry cross border M&A deals accounted for 87.4% of the overall value during April 2021.

The combined value of the top five oil & gas cross border deals stood at $612.33m, against the overall value of $700.6m recorded for the month.

The top five oil & gas industry cross border M&A deals of April 2021 tracked by GlobalData were:

1) The $389.92m merger of Navigator Holdings and Ultragas

2) The $120m asset transaction with Okeanis Eco Tankers by State Oilof the Azerbaijan Republic

3) Hexpol’s $57.1m acquisition of Union De IndustriasS.A.

4) The $24m asset transaction with PanGeo Subsea Scotland by Kraken Robotics

5) Archer’s acquisition of DeepWell for $21.31m.