Goldman Sachs 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 2019, according to GlobalData, a leading data and analytics company.
The American investment bank advised on nine deals, which were worth a combined US$11.9bn. According to GlobalData, which tracks all M&A, private equity/venture capital and asset transaction activity around the world to compile the league tables, Lazard trailed Goldman Sachs with nine deals worth US$9.4bn. With four deals valued at US$9.0bn, JP Morgan stood at third position.
Ravi Tokala, Financial Deals Analyst at GlobalData, says: "The slow trend in M&A activities in the automotive sector continued in 2019, witnessing a major drop in overall deal value as compared with the same period last year. ZF Friedrichshafen's acquisition of Wabco Holdings for US$7.4bn was instrumental in determining the rankings in the automotive sector. The top four financial and legal advisers were involved in this transaction."
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Global automotive deals market in 2019
The automotive sector saw a 34.03% drop in deal value from US$58.2bn in 2018 to US$38.4bn in 2019. However, deal volume witnessed a 33.65% surge from 425 to 568.
Goldman Sachs, which topped the automotive league table of M&A financial advisers, stood at top position in GlobalData's recently released global league table of top 20 M&A financial advisers.
Cleary Gottlieb Steen & Hamilton tops list of top 10 M&A legal advisers
Law firm Cleary Gottlieb Steen & Hamilton led the chart of top 10 legal advisers in 2019. The company advised on four deals worth US$7.9bn. Although Latham & Watkins and Clifford Chance advised on deals worth US$7.7bn, the former gained an edge in terms of volume. Latham & Watkins provided legal services to five deals while Clifford Chance worked on three deals.
In the global league table of top M&A 20 legal advisers, Cleary Gottlieb Steen & Hamilton was at fourth position. Latham & Watkins stood at sixth position while Clifford Chance stood at sixteenth position.
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Notes to Editors
Quotes are provided by Ravi Tokala, Financial Deals Analyst at GlobalData
The information is based on GlobalData's Financial Deals Database
This press release was written using data and information sourced from proprietary databases, primary and secondary research, and in-house analysis conducted by GlobalData's team of industry experts
Methodology for League Tables
GlobalData 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 an adviser submission forms on GlobalData, which allows both legal and financial advisers to submit their deal details. GlobalData's league table ranking is based on deal value. If value remains same for multiple advisers, deal volume is given weightage.
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