Citi was the leading financial adviser globally for mergers and acquisitions (M&A) in the first three quarters (Q1-Q3) of 2019 in the power sector, according to GlobalData.
The American bank advised on nine deals worth $11.6bn, 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.
Lazard stood at the second position with six deals worth $10.6bn, while RBC Capital Markets finished at third with 13 deals worth $9.1bn.
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 weighting.
Citi, which topped the power league table of M&A financial advisers, finished at fourth 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 says: “Rothschild, which was involved in the highest number of transactions in the financial adviser category, settled at eighth position due to the absence of big-ticket deals. White & Case stood as top legal adviser and able to cross $10bn mark in the power sector.”
The total deal value in the power sector plunged by 31.25% from $336.26bn in Q1-Q3 2018 to $231.17bn in Q1-Q3 2019. The sector saw 2,136 deals in Q1-Q3 2019, an increase of 15.33% from 1,852 deals in Q1-Q3 2018.
US-based law firm White & Case led the top ten legal advisers list in terms of deal value. The firm provided legal services to 17 deals worth $10.4bn. Sullivan & Cromwell secured second position with three deals worth $9.0bn.
In the global league table of top 20 M&A legal advisers, White & Case secured fourteenth 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 robustness to the data, the company also seeks submissions from leading advisers, through adviser submission forms on GlobalData’s website.