Citi and Barclays were the top mergers and acquisitions (M&A) financial advisers in the power sector for Q1 2021 by value and volume, respectively. Citi advised on three deals worth US$10bn, which was the highest value among all the advisers. Meanwhile, Barclays led in volume terms having advised on six deals worth US$8.1bn. A total of 606 M&A deals were announced in the sector during Q1 2021, according to GlobalData, a leading data and analytics company.

According to GlobalData’s report, ‘Global and Power M&A Report Power Financial Adviser League Tables Q1 2021’, deal value for the sector increased by 55.4% from US$56bn in Q1 2020 to US$87bn in Q1 2021.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Citi was the only adviser that managed to surpass the US$10bn mark. Though the firm advised on two billion-dollar deals, involvement in IFM Global Infrastructure Fund’s acquisition of 22.7% stake in Naturgy Energy in a US$6.2bn deal was instrumental for Citi to occupy the top position.

“Meanwhile, apart from leading by volume, Barclays also gave tough competition for the top position by value and occupied the second position among the top 10 advisors by value.”

BNP Paribas occupied the third position in terms of value with four deals worth US$7.5bn followed by Centerview Partners with four deals worth US$6.8bn.

Morgan Stanley occupied the second position by volume with six deals worth US$5.8bn followed by Goldman Sachs with six deals worth US$5.5bn and Rothschild & Co with six deals worth US$2.6bn.