Total financial services industry cross border M&A deals worth $1.1bn were announced globally in February 2021, led by Ontario Municipal Employees Retirement System’s $375m acquisition of Brit, according to GlobalData’s deals database.

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The value marked an increase of 144% over the previous month of $450.9m and a drop of 77.5% when compared with the last 12-month average, which stood at $4.88bn.

Comparing cross border M&A deals value in different regions of the globe, Europe held the top position, with total announced deals in the period worth $546.05m. At the country level, the UK topped the list in terms of deal value at $375m.

In terms of volumes, Europe emerged as the top region for financial services industry cross border M&A deals globally, followed by Asia-Pacific and then Middle East and Africa.

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The top country in terms of cross border M&A deals activity in February 2021 was the UK with six deals, followed by the Australia with three and Belgium with two.

In 2021, as of February, financial services cross border M&A deals worth $1.55bn were announced globally, marking an increase of 82.6% year on year.

financial services industry cross border M&A deals in February 2021: Top deals

The top five cross border M&A deals accounted for 95.6% of the overall value during February 2021.

The combined value of the top five financial services cross border M&A deals stood at $1.05bn, against the overall value of $1.1bn recorded for the month.

The top five financial services industry cross border M&A deals of February 2021 tracked by GlobalData were:

1) Ontario Municipal Employees Retirement System’s $375m acquisition of Brit

2) The $279.35m acquisition of Psagot Investment House by Altshuler Shaham Provident and Pension Funds

3) Ageas Insurance International’s $170.8m acquisition of AvivaSA Emeklilik ve Hayat

4) The $121m acquisition of Flexiti Financial by CURO Group

5) Tyson International Holding’s acquisition of Dindings Supreme Sdn for $100.8m.