30 Jul 2020
Posted in Business Fundamentals
Moelis & Co and Evercore were top financial advisers by value and volume in global oil and gas sector in H1 2020, says GlobalData
Financial advisers Moelis & Co and Evercore were noted to be the top mergers and acquisitions (M&A) financial advisers in the global oil and gas sector in the first half (H1) of 2020, based on deal value and volume, respectively. Moelis & Co advised on three deals worth US$12bn, which was the highest among all advisers. Meanwhile, Evercore led in volume terms having advised on nine deals worth US$3.1bn during H1, according to GlobalData, a leading data and analytics company.
Bank of America, First Abu Dhabi Bank, Mizuho Financial Group and Rothschild & Co jointly occupied the second position by value with one deal worth US$10.1bn each. Perella Weinberg Partners occupied the second position by volume with six deals worth US$84.4m.
Aurojyoti Bose, Financial Deals Analyst at GlobalData, comments: “Despite subdued deal activity – and the fact that none of the advisers (including ‘volume’ winner, Evercore) were able to showcase double-digit deal volume – all of the top five advisors by value surpassed the US$10bn mark, helped substantially by their involvement in the acquisition of a 49% stake in Abu Dhabi National Oil Company’s gas assets by a consortium of investors for US$10.1bn. Moelis & Co was also involved in one deal worth greater than or equal to US$1bn, and one worth more than US$100m, which helped it top the chart.”
On the back of COVID-19 outbreak, the number of deals announced in the global oil and gas sector decreased by 29.3% from 1,023 in H1 2019 to 723 in H1 2020, according to GlobalData’s Financial Deals Database. Deal value also decreased by 76.2% from US$189.6bn in H1 2019 to US$45.2bn in H1 2020.
Moelis & Co, which topped the oil and gas sector deals league table by value, stood at 14th position (by value) in the recently released global league table of top 20 M&A financial advisers by GlobalData. Similarly, Evercore, which topped the oil and gas sector league table by volume, occupied the thirteenth position (by volume) in the global league table.