Total power industry cross border M&A deals worth $7.2bn were announced in Europe in Q3 2022, led by Hitachi’s $1.68bn acquisition of 19.9% stake in Hitachi Energy, according to GlobalData’s deals database.
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The value marked a decrease of 32.2% over the previous quarter and a drop of 24% when compared with the last four-quarter average of $9.48bn.
Europe held a 70.62% share of the global power industry cross border M&A deal value that totalled $10.21bn in Q3 2022. With a 23.51% share and deals worth $2.4bn, Germany was the top country in Europe’s cross border M&A deal value across power industry.
In terms of deal activity, Europe recorded 86 cross border deals during Q3 2022, marking a decrease of 36.76% over the previous quarter and a drop of 27.88% over the last four-quarter average. Germany recorded 16 deals during the quarter.
Europe power industry cross border M&A deals in Q3 2022: Top deals
The top five power industry cross border M&A deals accounted for 69.4% of the overall value during Q3 2022.
The combined value of the top five cross border M&A deals stood at $5bn, against the overall value of $7.2bn recorded for the quarter.
The top five power industry cross border deals of Q3 2022 tracked by GlobalData were:
1) Hitachi’s $1.68bn acquisition deal for 19.9% stake in Hitachi Energy
2) The $1bn acquisition of Nexif Energy Holdings and NXF Holdings 2 by RH International (Singapore) Corp
3) The $913m merger deal with Athena Consumer Acquisition and Next.e.GO Mobile
4) The $705.01m asset transaction for 49% stake in Wikinger Offshore Wind Farm in Germany from Iberdrola
5) Orsted’s $702.93m acquisition deal with Ostwind Engineering, Ostwind Erneuerbare Energien, Ostwind International and Ostwindpark Rotmainquelle GmbHKG