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9 August, 2021updated 02 Nov 2021 15:32

Europe financial services cross-border deals increase 27.61% in Q2 2021

M&A activity is the key driver of the growth seen in Europe's Q2 financial services cross-border deals, followed by venture financing and private equity.

By Sofia Karadima

The financial services sector in Europe experienced a solid increase in cross-border deals in the second quarter of 2021, recording a 27.61% rise on the average of the previous four quarters, according to a press release by GlobalData.

GlobalData’s deals database reveals there were 119 cross-border deals in the second quarter of 2021. The average number over the previous four quarters was 93.25. The data also shows that the 119 cross-border deals amounted to a total of $8.7bn.

Mergers and acquisitions (M&A) activity recorded the highest number of cross-border deals in the second quarter of 2021, followed by venture financing and private equity (PE). More specifically, there were 55 M&A transactions, 40 in venture financing and 24 in PE.

M&A deals represented 46.2% of the total cross-border deals activity, with venture financing and PE amounting to 33.6% and 20.2%, respectively. Nevertheless, PE ranked first in terms of cross-border deals value over the same period. The press release stated that PE cross-border deals amounted to $3.45bn, with venture financing raising $2.98bn and M&A accounting for $2.3bn.

The press release also revealed that the top five financial services cross-border deals of the second quarter of 2021, tracked by GlobalData, included: Partners Group’s $1.21bn private equity deal for a 49% stake in Telepass; the $985.19m acquisition of Nutmeg Saving & Investment by JPMorgan Chase; Siris Capital Group’s $951.68m private equity deal with Equiniti Group; the $942.6m acquisition deal with Aon UK by Berkshire Hathaway; and Trade Republic’s $900m investment.

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