Africa and Middle East's oil and gas sector saw a rise of 6.45% in cross border deals

Cross border dealasLed by Energean’s US$405mn 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 the Q4 2020, when compared to the last four-quarter average, according to GlobalData’s deals database

A total of 33 cross border deals worth US$1.69bn were announced for the region during the Q4 2020, against the last four-quarter average of 31 deals.

Of all the deal types, M&A saw most activity in Q4 2020 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$1.44bn, followed by private equity deals totaled US$30mn.

Middle East and Africa oil and gas industry top deals

The top five oil and gas cross border deals accounted for a 78.2% share of the overall value during the Q4 2020.

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

The top five oil and gas industry cross border deals of the Q4 2020 tracked by GlobalData include

• Energean’s US$405mn acquisition of Energean Israel.

• The US$348mn acquisition of Ham-Let (Israel-Canada) by Ultra Clean Holdings.

• IPR Energy Resources’ US$236mn asset transaction with Dana Gas.

• The US$166.58mn 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$165mn.

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