Deal activity rises in Europe’s metals and mining industry

Europe’s metals and mining industry saw a rise of 6.5% in overall deal activity in 3Q19 when compared to the four quarter average, according to GlobalData’s deals database.

GlobalData found that a total of 33 deals worth US$1.92 billion were announced for the region during 3Q19 against the last four quarter average of 31 deals.

Of all the deal types, mergers and acquisitions (M&A) saw most activity in 3Q19 with 28, representing an 84.9% share for the region. Private equity had four deals and venture financing deals had one transaction, respectively making up a 12.1% and 3.03% share of the overall deal activity for the quarter.

In terms of value of deals, M&A was the leading category in Europe’s metals and mining industry with US$1.92 billion, followed by venture financing deals totalling US$1.75 million.

Top industry deals in 3Q19

 

The top five metals and mining deals accounted for 98.03% of the overall value during 3Q19.

The combined value of the top five metals and mining deals stood at US$1.88 billion, against the overall value of US$1.92 billion recorded for the quarter.

The top five metals and mining industry deals tracked by GlobalData were:

1.Liberty House Group’s US$841.11 million asset transaction with ArcelorMittal.

2.The US$428 million acquisition of Acacia Mining by Barrick Gold.

3.Kinross Gold’s US$283m million asset transaction with N-Mining.

4.The US$274 million acquisition of Toro Gold by Resolute Mining.

5.Cengiz Holding’s asset transaction with Liberty Gold and Teck Madencilik Sanayi Ticaret for US$55 million.

Source: globalminingreview.com