Citi has emerged as the top mergers and acquisitions (M&A) financial adviser in the oil and gas sector for the first quarter (Q1) of 2024, both in terms of deal value and volume, according to GlobalData’s latest league table.
GlobalData, a leading data and analytics company and the parent company of Offshore Technology, ranks advisers by the value and volume of M&A deals on which they advised.
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Analysis of GlobalData’s Deals Database has shown that Citi advised on six deals, cumulatively worth $43.5bn.
GlobalData lead analyst Aurojyoti Bose said: “Citi registered improvement in the number of deals advised by it during Q1 2024 compared to Q1 2023, whereas there was a massive ten times jump in terms of value. Resultantly, it is ranking by volume improved from the fifth position in Q1 2023 to the top position in Q1 2024. Meanwhile, it went ahead from occupying the third position by value in Q1 2023 to top the chart by this metric in Q1 2024.
“During Q1 2024, Citi advised on four billion-dollar deals, which also included two mega deals valued at more than $10bn. Involvement in these big-ticket deals helped Citi register a massive jump in terms of value.”
JP Morgan followed closely in terms of deal value, advising on transactions amounting to $39.9bn.
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By GlobalDataGoldman Sachs was next with deals worth $33.4bn, while Jefferies and RBC Capital Markets advised on deals valued at $28.1bn and $23.4bn, respectively.
In terms of deal volume, Evercore took the second spot with six deals, matching Citi’s number but with a lower total value.
RBC Capital Markets, Wells Fargo and Piper Sandler each advised on five deals, showcasing a competitive landscape in the sector’s financial advisory services.
GlobalData’s league tables are based on the real-time tracking of thousands of company websites, advisory company websites and other reliable sources available in the secondary domain. A dedicated team of analysts monitors all these sources to gather in-depth details for each deal, including adviser names.
To ensure further robustness of the data, the company also seeks deal submissions from leading advisers.
