Posted 05 August, 2019 at 14:31
Lazard has dominated the latest mergers and acquisitions (M&A) league table of the top 10 financial advisers for the automotive sector based on deal value in the first half (H1) of 2019, according to GlobalData, a leading data and analytics company.
The Bermuda-based financial advisory and asset management firm advised on five deals worth a combined US$8.6bn. According to GlobalData, which tracks all M&A, private equity/venture capital and asset transaction activity around the world to compile the league tables, JP Morgan trailed Lazard with two deals worth US$8.1bn. With four deals valued at US$7.9bn, Goldman Sachs stood at third position.
Nagarjun Sura, Financial Deals Analyst at GlobalData, says: “ZF Friedrichshafen’s acquisition of Wabco Holdings for US$7.4bn was instrumental in determining the rakings in the automotive sector. The top four financial and legal advisers were involved in this transaction.”
Global automotive deals market in H1 2019
The automotive sector saw a 15.9% plunge in deal value from US$27.3bn in H1 2018 to US$22.9bn in H1 2019. Deal volume, however, witnessed a 53.6% surge from 179 to 275.
Interestingly, Lazard, which topped the automotive league table of M&A financial advisers, ranked in the thirteenth position in GlobalData’s recently released global league table of top 20 M&A financial advisers.
Latham &Watkins tops list of top 10 M&A legal advisers
Law firm Latham & Watkins led the chart of top 10 legal advisers in terms of value. It provided legal services for four deals worth a combined US$7.7bn. Clifford Chance, and Skadden, Arps, Slate, Meagher & Flom advised on two deals each worth US$7.4bn. In the global league table of top M&A 20 legal advisers, Latham & Watkins was at eighth position. Clifford Chance stood at fifteenth position while Skadden, Arps, Slate, Meagher & Flom stood at tenth position.