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HSBC tops M&A financial advisers by value in power sector

HSBC tops M&A financial advisers by value in power sector

Mubasher: HSBC and Ernst & Young were the top mergers and acquisitions (M&A) financial advisers in the global power sector for 2020 by value and volume, respectively, GlobalData said in a recent report. 

HSBC advised on six deals valued at $30.7 billion, whilst Ernst & Young led in terms of volume and advised on 27 deals worth $3.3 billion.

A total 2,033 M&A deals were announced in the sector during 2020, down by 18.3% from the 2,487 deals announced in 2019.

According to GlobalData’s report, the deal value increased by 1% from $272 billion in 2019 to $275 billion in 2020.

"Ernst & Young was among the only two firms (the other firm being PwC) that managed to advise on more than 20 deals ... Surprisingly, both Ernst & Young and PwC not only lost the top position by value to HSBC that only advised on a single-digit deal volume, but also failed to secure a ranking in the list of top ten advisers by value," Lead Analyst at GlobalData, Aurojyoti Bose, said. 

"HSBC managed to advise on four billion-dollar deals worth greater than or equal to $1 billion, including a mega deal (deal valued more than or equal to $10 billion). It was also the only firm to cross $30 billion during 2020," added Bose.