Total oil & gas industry M&A deals worth $8.3bn 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 42.2% over the previous quarter and a drop of 60.2% when compared with the last four-quarter average of $20.94bn. Europe held a 12.94% share of the global oil & gas industry M&A deal value that totalled $64.45bn in Q3 2022. With a 7.45% share and deals worth $4.8bn, Spain was the top country in Europe’s M&A deal value across oil & gas industry. In terms of deal activity, Europe recorded 109 deals during Q3 2022, marking a decrease of 7.63% over the previous quarter and a rise of 2.11% over the last four-quarter average. Norway recorded 21 deals during the quarter.
Europe oil & gas industry M&A deals in Q3 2022: Top deals
The top five oil & gas industry M&A deals accounted for 81.3% of the overall value during Q3 2022. The combined value of the top five M&A deals stood at $6.77bn, against the overall value of $8.3bn recorded for the quarter. The top five oil & gas industry deals of Q3 2022 tracked by GlobalData were: 2) The $698.36m asset transaction of Co-operative Group by Asda Stores 3) Parkland’s $558.07m acquisition deal for 25% stake in Sol Investments SEZC 4) The $400m acquisition of FSRU I by Snam 5) Sval Energi’s $318.39m acquisition deal with Suncor Energy Norge
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