TotalEnergies’ $12.5bn acquisition of 25% stake in Adani New Industries was the Power industry’s biggest cross border deal of Q2 2022 as cross border deals worth $35.4bn were announced globally in the quarter, according to GlobalData’s deals database.
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The value marked an increase of 232.4% over the previous quarter and a rise of 72.9% when compared with the last four-quarter average of $20.48bn.
In terms of number of cross border deals, the sector saw a rise of 1.28% with 139 deals in Q2 2022 against the average of 137.25 deals in the last four-quarters.
In value terms, Europe led the activity with cross border deals worth $17.43bn.
Power industry cross border deals in Q2 2022: Top deals
The top five Power industry cross border deals accounted for 76.2% of the overall value during Q2 2022.
The combined value of the top five cross border deals stood at $26.98bn, against the overall value of $35.4bn recorded for the quarter.
The top five Power industry cross border deals of Q2 2022 tracked by GlobalData were:
1) TotalEnergies $12.5bn acquisition deal for 25% stake in Adani New Industries
2) The $6.14bn acquisition of ContourGlobal by Cretaceous Bidco
3) Siemens Energy $4.26bn acquisition deal for 32.9% stake in Siemens Gamesa Renewable Energy
4) The $2.48bn private equity deal for 92.19% stake in Albioma by KKRInc
5) TotalEnergies $1.6bn acquisition deal for 50% stake in Clearway Energy Group
