Mergers & acquisitions activity within the global electricity and gas market
The power deal spotlight in 2009 continued to shift away from the very large deals of earlier years as companies focused their attention on smaller acquisitions. The overall market for power deal activity remained relatively buoyant, with the number of electricity and gas deals only 10% down in the main non-renewables power deal sector despite the more constrained financial and uncertain economic climate.
These are among the key findings of PricewaterhouseCoopers annual Power Deals review.Only those companies with balance sheet strength were active players for bigger deals as small deals became the order of the day. Deal numbers dipped 10% but remained at relatively high levels. However, average power deal value (excluding renewables) plummeted from US$428 million in 2008 to US$262 million in 2009. Total deal value across the whole of the sector (including renewables) was barely half (56%) of its 2008 level.
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