Total power industry cross border M&A deals worth $2.1bn were announced in Europe in November 2022, led by Shell Petroleum’s $2bn acquisition of Nature Energy Stovring, according to GlobalData’s deals database.

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The value marked an increase of 221.8% over the previous month of $649.44m and a drop of 19.9% when compared with the last 12-month average of $2.61bn.

Europe held a 79.77% share of the global power industry cross border M&A deal value that totalled $2.62bn in November 2022. With a 76.34% share and deals worth $2bn, Denmark was the top country in Europe’s cross border M&A deal value across power industry.

In terms of cross border M&A deal activity, Europe recorded 34 deals during November 2022, marking an increase of 88.89% over the previous month and a drop of 12.82% over the 12-month average. The UK recorded six deals during the month.

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Europe power industry cross border M&A deals in November 2022: Top deals

The top five power industry cross border M&A deals accounted for 99.7% of the overall value during November 2022.

The combined value of the top five power cross border deals stood at $2.09bn, against the overall value of $2.1bn recorded for the month.

The top five power industry cross border M&A deals of November 2022 tracked by GlobalData were:

1) Shell Petroleum’s $2bn acquisition deal with Nature Energy Stovring

2) The $53.15m acquisition of Reka Cables by Nexans

3) Mustang Energy’s $19.44m acquisition deal for 50.5% stake in Vanadium Redox Flow Battery Holdings

4) The $7.19m acquisition of 32.48% stake in Lerta by Photon Energy

5) Octopus Energy Generation and Octopus Renewables Infrastructure Trust’s $6.49m acquisition deal for 3.5% stake in Simply Blue Group