Advent International and Lanxess’ $4.14bn private equity deal with Koninklijke DSM was the Oil & gas industry’s biggest cross border deal of Q2 2022 as cross border deals worth $11.1bn were announced globally in the quarter, according to GlobalData’s deals database.

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The value marked an increase of 29.3% over the previous quarter and a drop of 57.1% when compared with the last four-quarter average of $25.79bn.

In terms of number of cross border deals, the sector saw a drop of 21.95% with 80 deals in Q2 2022 against the average of 102.50 deals in the last four-quarters.

In value terms, Europe led the activity with cross border deals worth $7.01bn.

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Oil & gas industry cross border deals in Q2 2022: Top deals

The top five Oil & gas industry cross border deals accounted for 79% of the overall value during Q2 2022.

The combined value of the top five cross border deals stood at $8.74bn, against the overall value of $11.1bn recorded for the quarter.

The top five Oil & gas industry cross border deals of Q2 2022 tracked by GlobalData were:

1) Advent International and Lanxess $4.14bn private equity deal with Koninklijke DSM

2) The $2.39bn acquisition of Perstorp Holding by Petronas Chemicals Group

3) Baring Private Equity Asia V Holding (1) $1.01bn private equity deal for 54.06% stake in PI Advanced Materials

4) The $800m acquisition of Cook Inlet Natural Gas Storage Alaska,ENSTAR Natural Gas and Norstar PipelineInc by TriSummit Utilities

5) ADQ $391.9m private equity deal with Abu Qir Fertilizers and Chemical Industries