Europe’s financial services industry saw a drop of 20.00% in cross border deal activity during November 2022, when compared with the last 12-month average, led by Octium Group’s $2.62bn asset transaction with Swiss INSUREVOLUTION Partners, according to GlobalData’s deals database.

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A total of 36 financial services industry cross border deals worth $2.9bn were announced for the region in November 2022, against the 12-month average of 45 deals.

Of all the deal types, M&A saw most activity in November 2022 with 23 transactions, representing a 63.9% share for the region.

In second place was venture financing with 11 deals, followed by private equity deals with two transactions, respectively capturing a 30.6% and 5.6% share of the overall cross border deal activity for the month.

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In terms of value of cross border deals, M&A was the leading category in Europe’s financial services industry with $2.83bn, followed by venture financing deals totalled $83.6m.

Europe financial services industry cross border deals in November 2022: Top deals

The top five financial services cross border deals accounted for 96.9% of the overall value during November 2022.

The combined value of the top five financial services cross border deals stood at $2.83bn, against the overall value of $2.9bn recorded for the month.

The top five financial services industry cross border deals of November 2022 tracked by GlobalData were:

1) Octium Group’s $2.62bn asset transaction deal with Swiss INSUREVOLUTION Partners

2) The $130.71m acquisition of 49% stake in LionRock Capital Partners QiLe by Viva China Consumables

3) Abrdn, BitRock Capital, Blockchain Coinvestors, CE Innovation Capital, Keiretsu Capital, Lingfeng Capital, Mathrix, SGH CAPITAL and Tezos Foundation’s $28.5m venture financing deal with Archax

4) The $25.68m venture financing of FINTECTURE by Allianz Trade, Eurazeo, HEC Ventures, Huey Lin, Olivier Pomel, RTP Global – UK, Samaipata Ventures, Societe Generale and Target Global

5) Generali Group’s $24.89m acquisition deal for 8.7% stake in Banco CTT