JP Morgan was the leading financial adviser globally for mergers and acquisitions (M&A) in Q1 2019 in the construction sector, according to GlobalData.
The investment bank beat its fellow counterparts Morgan Stanley, Goldman Sachs and HSBC to lead the table with seven deals worth $13.3bn, including the big ticket deal of CapitaLand’s acquisition of Ascendas and Singbridge from Temasek for $8.1bn.
With 61 deals valued at $331.9bn, JP Morgan also took the top spot in GlobalData’s Q1 2019 ranking of top 20 financial advisers for global mergers and acquisitions.
GlobalData has published a top ten league table of financial advisers ranked according to the value of announced M&A deals globally. If value remains same for multiple advisers, deal volume is given weightage.
Morgan Stanley occupied second position with five transactions worth $6.9bn, followed by Goldman Sachs with four transactions worth $3.9bn.
Ravi Tokala, Financial Deals Analyst at GlobalData, says: “M&A activities in the construction sector started on a slow note in 2019, with Q1 witnessing a major drop in deal activity as compared with the same quarter last year. Almost all the top 10 advisers by value advised less than five deals, except JP Morgan and Morgan Stanley, which managed to work on seven and five deals, respectively. CapitaLand’s $8.1bn acquisition of Ascendas and Singbridge was instrumental in deciding the top spot for both financial and legal advisers in league tables.”
The construction sector saw decline in value and volume of deals in Q1 2019 when compared with Q1 2018. The overall deal value plunged by 57.7% from $139bn in Q1 2018 to $58.8bn in Q1 2019 and deal volume fell by 2.4% from 663 in Q1 2018 to 647 in Q1 2019.
Singapore-based WongPartnership topped the list of top 10 legal advisers by value with two deals worth $8.1bn. Although Allen & Gledhill too advised on $8.1bn deal, WongPartnership gained an edge in the ranking due to deal volume. The four top firms in the sector table were conspicuous by their absence in the global league table of top 20 legal advisers for Q1 2019. Kirkland & Ellis occupied first position with 128 deals worth $215.9bn in the global list. Goodwin Procter, Wachtell Lipton Rosen & Katz, Weil Gotshal & Manges, which figured in the sector table, were also present in the global list.
GlobalData’s league tables are based on the real-time tracking of thousands of company websites, advisory firm websites and other reliable sources available on the secondary domain. A dedicated team of analysts monitors all these sources to gather in-depth details for each deal, including adviser names.
To ensure further robustness to the data, the company also seeks submissions from leading advisers, through adviser submission forms on GlobalData’s website.
Verdict deals analysis methodology
This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.
GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.
More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.