Outlook good for North Sea M&A activity
Sales and mergers among companies trading North Sea assets are expected to remain frothy this year as dealmakers confirm lack of funding is no longer acting as a “significant” barrier, a survey has found.
Dealmakers expect transactions, such as the acquisition of BP assets by Abu Dhabi-based Taqa, to be healthy in the next 12 months, according to a report by KPMG.
Close to three-quarters of those surveyed said they expect healthy merger and acquisition (M&A) activity in the coming year, while the vast majority – 94% – no longer saw a lack of finance as a major issue. The survey, conducted at KPMG’s recent M&A forum in Aberdeen, found the energy sector was expected to continue its dominance among buyers and sellers.
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