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Middle East and Africa: increase in cross border deals in 4Q20

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World Pipelines,


Led by Energean’s US$405 million acquisition of Energean Israel, Middle East and Africa’s oil and gas industry saw a rise of 6.45% in cross border deal activity during 4Q20, when compared to the last four-quarter average, according to GlobalData’s deals database.

A total of 33 cross border deals worth US$1.69 billion were announced for the region during 4Q20, against the last four-quarter average of 31 deals.

Of all the deal types, M&A saw most activity in 4Q20 with 32, representing a 96.9% share for the region.

In second place was private equity with one deal capturing a 3.03% of the overall cross border deal activity for the quarter.

In terms of value of cross border deals, M&A was the leading category in Israel’s oil and gas industry with US$1.44 billion, followed by private equity deals totalled US$30 million.

Top deals

The top five oil and gas cross border deals accounted for a 78.2% share of the overall value during 4Q20.

The combined value of the top five cross border deals stood at US$1.32 billion, against the overall value of US$1.69 billion recorded for the quarter.

The top five oil and gas industry cross border deals of 4Q20 tracked by GlobalData were:

  • Energean’s US$405 million acquisition of Energean Israel.
  • The US$348 million acquisition of Ham-Let (Israel-Canada) by Ultra Clean Holdings.
  • IPR Energy Resources’ US$236 million asset transaction with Dana Gas.
  • The US$166.58 million asset transaction deal with FAR Holdings one and FAR Senegal RSSD by Woodside Petroleum.
  • Rovensa’s acquisition of Oro Agri SA and Oro Agri SEZC for US$165 million.

 

Read the latest issue of World Pipelines magazine for pipeline news, project stories, industry insight and technical articles.

World Pipelines’ March 2021 issue

The March 2021 issue of World Pipelines includes: a regional report on pipeline projects in Asia-Pacific; a summary of the latest and best construction equipment courtesy of the annual Heavy Equipment Review; a welding-focused Q&A; and technical articles on hot tapping, sustainable steel and decommissioning.

Read the article online at: https://www.worldpipelines.com/business-news/09032021/middle-east-and-africa-increase-in-cross-border-deals-in-4q20/

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Middle East pipeline news Africa pipeline news