10 Jul 2020
Posted in Business Fundamentals
Goldman Sachs and Rothschild were top financial advisers by value and volume in Europe in H1 2020, says GlobalData
Financial advisers Goldman Sachs and Rothschild & Co were noted to be the top mergers and acquisitions (M&A) financial advisers in Europe in the first half (H1) of 2020, based on deal value and volume, respectively. Goldman Sachs achieved a total deal value of US$131bn for 33 deals supported by its management of big-ticket deals such as the US$33bn Aon-Willis Towers Watson merger and the acquisition of ThyssenKrupp Elevator by a consortium of investors for US$18.7bn. Meanwhile, Rothschild & Co led in terms of volume, having advised on a total 81 deals worth US$65.8bn during H1, according to GlobalData, a leading data and analytics company.
Aurojyoti Bose, Financial Deals Analyst at GlobalData, comments: “Despite advising on relatively fewer deals, Goldman Sachs was the only adviser that crossed the US$100bn mark during the COVID-19 hit H1 2020. The company advised on a total of 18 billion-dollar deals, worth greater than or equal to US$1bn, during H1, outpacing its peers by a great margin. Morgan Stanley occupied the second position by value, with 25 deals worth US$78.1bn, followed by Bank of America with 25 deals worth US$68.6bn. “
Bose continued: “By volume, Ernst & Young was the second M&A financial adviser in Europe, with 80 deals worth US$5.2bn, followed by PwC with 66 deals worth US$6.4bn. Despite achieving top spot, Rothschild & Co had to settle for fourth position in terms of value.”
The COVID-19 outbreak had a huge impact on deal making in Europe with the number of deals announced in the region decreasing by almost 12% from 7,436 in H1 2019 to 6,552 in H1 2020, according to GlobalData’s Financial Deals Database. Deal value also decreased by 12.2% from US$387.2bn in H1 2019 to US$340bn in H1 2020. Goldman Sachs, which topped the European deals league table by value, secured the top position (by value) in the recently released global league table of top 20 M&A financial advisers by GlobalData. Similarly, Rothschild & Co, which topped the European league table by volume, occupied the third position (by volume) in the global league table.