Power sector M&A soared to new record levels in 2007, despite the effect of the credit crunch. The latest edition of Power Deals, the annual review by PricewaterhouseCoopers of power sector M&A, shows a 25% year on year increase, with the worldwide 2007 power deal value of US$372.5bn nearly nine times above the US$43bn recorded just four years earlier in 2003. Records continue to be set in the sector for the total number and value of deals and for the size of individual deals.
There was no evidence of a fall-off in deal activity as the credit crisis broke. Some 57% of all power sector deals, 441 of the total 768 deals in 2007, came in the second half of the year. Indeed, the number of final quarter deals in 2007 was 73% up on the final quarter of 2006 and final quarter total value was 21% up.
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