Citi was the leading financial adviser globally for mergers and acquisitions (M&A) in Q1 2019 in the oil & gas sector, according to GlobalData.
The American multinational investment bank topped the rankings with a deal value of $81.1bn, by advising on eight deals during the quarter – which incidentally was the highest in terms of volume (a figure shared by two others). HSBC was a close second with $80.7bn earned on the strength of just three deals.
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It figured in the third position in GlobalData’s Q1 2019 ranking of top 20 financial advisers for global mergers and acquisitions.
GlobalData has published a top ten league table of financial advisers ranked according to the value of announced M&A deals globally. If value remains same for multiple advisers, deal volume is given weightage.
Morgan Stanley took third place with six deals worth a total of $80.6bn.
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By GlobalDataPraveen Karnati, financial deals analyst at GlobalData, said: “Citi retained its top position mainly by advising Saudi Basic Industries (Sabic) in its 70% stake sale to Saudi Aramco for approximately US$73.9bn.”
The oil & gas sector saw an increase in deal value by over 45.9% from $109.6bn in Q1 2018 to $159.97bn in Q1 2019. However, deal volume declined by 14.7% from 654 in Q1 2018 to 558 in Q1 2019.
Vinson & Elkins led the top ten10 legal advisers table for Q1 2019 with a total deal value of $8.0bn. Second ranked Cleary Gottlieb Steen & Hamilton showed a total deal value of $6.8bn on the strength of just two deals – the least in the top ten list. Latham & Watkins came in a close third with $6.7bn although it took six deals to get there.
Top ten leader Vinson & Elkins was conspicuous by its absence in the global league table of top 20 legal advisers for Q1 2019 released by GlobalData recently. Cleary Gottlieb Steen & Hamilton, however, managed tenth position in the global list.
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.
