Top ten power sector M&A financial and legal advisers for 2019 revealed

20 January 2020 (Last Updated January 20th, 2020 15:19)

Bank of America was the leading financial adviser globally for mergers and acquisitions (M&A) in 2019 in the power sector, according to GlobalData.

Bank of America was the leading financial adviser globally for mergers and acquisitions (M&A) in 2019 in the power sector, according to GlobalData.

The American bank advised on nine deals worth $21.8bn, including the big-ticket deal of China Yangtze Power International’s (Hongkong) acquisition of equity interest in Peruvian businesses from Sempra Energy for $3.59bn.

Citi stood at the second position with 13 deals worth $17.8bn, while Lazard finished at third with ten deals worth $15.9bn.

GlobalData has published a top ten league table of financial advisers ranked according to the value of announced M&A deals globally. If the value remains the same for multiple advisers, deal volume is given a weighting.

Bank of America, which topped the power league table of M&A financial advisers, finished at sixth position in the global league table of top 20 M&A financial advisers by GlobalData. Goldman Sachs topped the global rankings chart, followed by JP Morgan.

GlobalData financial deals analyst Nagarjun Sura said: “Canada Pension Plan Investment Board acquisition of Pattern Energy was instrumental in determining the top rankings of the power sector. Sullivan & Cromwell from the legal side and Bank of America from the financial side were involved in this transaction and topped the league table respectively.”

The total deal value in the power sector plunged by 28.69% from $445.2bn in 2018 to $317.5bn in 2019. The sector saw 2,855 deals in 2019, an increase of 13.11% from 2,524 deals in 2018.

US-based law firm Sullivan & Cromwell led the top ten legal adviser list in terms of deal value. The firm provided legal services to eight deals worth $21.6bn. White & Case secured the second position with 22 deals worth $13.8bn.

In the global league table of top 20 M&A legal advisers, Sullivan & Cromwell secured the third position. The global table was led by Wachtell, Lipton, Rosen & Katz.

GlobalData’s league tables are based on the real-time tracking of thousands of company websites, advisory firm websites and other reliable sources available on the secondary domain. A dedicated team of analysts monitors all these sources to gather in-depth details for each deal, including adviser names.

To ensure further data robustness, the company also seeks submissions from leading advisers through adviser submission forms on GlobalData’s website.