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 the first three quarters (Q1-Q3) of 2019, according to GlobalData, a leading data and analytics company.

The American multinational investment bank led the table with seven deals worth US$32.8bn, gaining a marginal edge over BMO Capital Markets, which advised on eight deals worth US$32.3bn.

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 three deals valued at US$31.5bn.

Ravi Tokala, Financial Deals Analyst at GlobalData, says: “Newmont Mining’s deal to acquire Barrick Gold and Goldcorp were instrumental in deciding the rankings in this sector, even though the acquisition of Barrick Gold could not materialize. Top 10 legal advisors and top 8 financial advisors were involved in either one of these transactions.”

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Global metals & mining deals market in Q1-Q3 2019

The metals & mining sector saw a decline in deal value in Q1-Q3 2019 when compared with the prior year period. The overall deal value fell by 51.07% from US$84.96bn in Q1-Q3 2018 to US$41.57bn in Q1-Q3 2019. Deal volume also decreased by 0.87% from 1035 to 1026.

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 four deals worth US$31.5bn 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.