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  1. Deals Analysis
January 20, 2020

Top ten construction sector M&A financial and legal advisers for 2019 revealed

Morgan Stanley was the leading financial adviser globally for mergers and acquisitions (M&A) in 2019 in the construction sector, according to GlobalData.

The investment bank left behind its counterparts JP Morgan, Citi and Goldman Sachs to lead the table, with 25 deals worth $43.0bn.

Morgan Stanley stood at the third position in GlobalData’s recently released global league table of top 20 M&A financial advisers.

JP Morgan occupied the second position with 30 transactions worth $40.5bn, followed by Citi with 14 transactions worth $27.8bn.

GlobalData has published a top ten league table of financial advisers ranked according to the value of announced M&A deals globally. If the value remains the same for multiple advisers, deal volume is given weighting.

The construction sector saw a decline in the value of deals in 2019 when compared with 2018. The overall deal value plunged by 44.45% from $368.1bn in 2018 to $204.5bn in 2019. However, deal volume increased by 6.12% from 2,531 to 2,686.

GlobalData financial deals analyst Ravi Tokala says: “With only one megadeal (>$10bn) and less than ~50 deals crossing $1bn in 2019, the construction sector witnessed a major drop in overall deal value as compared with the same period last year. Prologis’ acquisition of Liberty Property Trust for $12.6bn and CapitaLand’s purchase of Ascendas and Singbridge for $8.1bn were instrumental in deciding the top spot for both financial and legal advisers in the league table.”

UK-based Clifford Chance topped the list of top ten legal advisers by value with 19 deals worth $28.1bn. The company occupied the sixteenth position in the global league table of top 20 M&A legal advisers.

Gibson, Dunn & Crutcher, which took the second spot with four deals worth $15.4bn in the sector table, did not figure in the global league table.

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.

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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.

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