Europe’s metals and mining industry saw a drop of 8.6% in overall deal activity during the third quarter, when compared with the four-quarter average, according to GlobalData’s deals database.
A total of 32 deals, worth $1.28-billion, were announced for the region during the third quarter 2020, compared with the last four-quarter average of 35 deals.
Of all the deal types, mergers and acquisitions (M&A) saw most activity in the third quarter 2020 with 28 deals, representing an 87.5% share for the region.
In second place was private equity with three deals, followed by venture financing deals with one transaction, capturing a share of 9.4% and 3.1%, respectively, 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 $1.27-billion, while private equity and venture financing deals totalled $8.62-million and $1.02-million, respectively.
The top five metals and mining deals accounted for 81.8% of the overall value during the third quarter. The combined value of the top five metals and mining deals stood at $1.04-billion.
The top five deals of the third quarter were Fortiana’s $569.56-million acquisition of Highland Gold Mining, the $163.83-million acquisition of Grupo Gallardo Balboa by Grupo Industrial, JSC Polyus Krasnoyarsk’s $128.2-million acquisition of SL Gold Limited Liability, the $105.06-million acquisition of Verkhnekamsk Potash by VTB Group and Liberty Galati’s asset transaction with Ascoval and Hayange for $76.96-million.