A total of 76 Mergers & Acquisitions (M&A) deals (pending and completed) were announced in the Oil & Gas of China, in the last twelve months resulting in a total deal value of over $6,955.2 million. In the LTM period, September 2021 turned out to be the most prolific in terms of deal size, with a total deal value of $1,907.7 million, resulting in an average deal value of $238.5 million during that month. On the other hand, the month of June 2022 was the most prolific in terms of deal volume, recording a total of 15 deals, resulting in an average deal value of $55.9 million during that month.
Of the 76 deals, the deal secured between China Resources Gas Group Ltd and Chongqing Gas Group Corp Ltd, was the largest M&A deal in the China Oil & Gas sector, which was valued at $364.6 million and was completed on September 10, 2021. The second-largest deal was between China Three Gorges New Energy (Group) Co., Ltd and Yangjiang Mingyang Offshore Wind Power Development Co Ltd, while the third-largest deal was between Jiangxi Jovo Energy Co Ltd and Sichuan Yuanfeng Sentai Energy Group Co Ltd. The China Three Gorges New Energy (Group) Co., Ltd-Yangjiang Mingyang Offshore Wind Power Development Co Ltd deal and the Jiangxi Jovo Energy Co Ltd-Sichuan Yuanfeng Sentai Energy Group Co Ltd deal were valued at $275.7 million and $268.7 million, respectively. The fourth-largest deal was between Zijin Mining Group Co Ltd-Fujian Longking Co Ltd valued at $258.9 million, whereas the deal between China BlueChemical Ltd-CNOOC Orient Petrochemical Co Ltd valued at $194.8 million was the fifth-largest deal.
Cumulatively, the top five deals amounted to $1,362.7 million and accounted for nearly 19.59% of the total deals (by value) announced during the last twelve months.
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