Citi has topped the latest mergers and acquisitions (M&A) league table of the top 10 financial advisers for the metals & mining sector based on deal value in 2019, according to GlobalData, a leading data and analytics company.

The American multinational investment bank led the table with ten deals worth US$36.9bn, gaining a marginal edge over BMO Capital Markets, which advised on 12 deals worth US$36.8bn.

According to GlobalData, which tracks all M&A, private equity/venture capital and asset transaction activity around the world to compile the league tables, Goldman Sachs secured third position with eight deals valued at US$35.0bn.

Ravi Tokala, Financial Deals Analyst at GlobalData, says: “Newmont Mining’s deals with Barrick Gold and Goldcorp were instrumental in deciding the rankings in this sector, even though the acquisition of Newmont Mining by Barrick Gold could not materialize. The top 10 legal advisors and top eight financial advisers were involved in either one of these transactions.”

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Global metals & mining deals market in 2019

The metals & mining sector saw a decline in deal value in 2019 when compared with 2018. The overall deal value fell by 39.14% from US$101.6bn in 2018 to US$61.8bn in 2019. Deal volume also decreased by 3.32% from 1,385 to 1,339.

The top ranker in the metals & mining sector, Citi, secured fourth position in the recently released global league table of top 20 M&A financial advisers by GlobalData.

White & Case tops list of M&A legal advisers

White & Case secured the first spot in the table of the top 10 legal advisers by value with five deals worth US$35.3bn, but finished in fourteenth position in the global league table of top 20 M&A legal advisers. Wachtell, Lipton, Rosen & Katz secured second position with two deals worth US$31.1bn.