Total financial services industry cross border M&A deals worth $5.1bn were announced globally in November 2021, led by BBVA’s $2.57bn acquisition of Garanti BBVA, according to GlobalData’s deals database.

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The value marked a decrease of 46.7% over the previous month of $9.57bn and a drop of 32.4% when compared with the last 12-month average, which stood at $7.54bn.

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 $4.19bn. At the country level, the Turkey topped the list in terms of deal value at $2.92bn.

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 North America.

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The top country in terms of cross border M&A deals activity in November 2021 was the UK with seven deals, followed by the US with four and The Netherlands with two.

In 2021, as of November, financial services cross border M&A deals worth $91.16bn were announced globally, marking an increase of 120.8% year on year.

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

The top five cross border M&A deals accounted for 95.9% of the overall value during November 2021.

The combined value of the top five financial services cross border M&A deals stood at $4.89bn, against the overall value of $5.1bn recorded for the month.

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

1) BBVA $2.57bn acquisition deal for 50.2% stake in Garanti BBVA

2) The $900m acquisition of 10% stake in Odyssey Group Holdings by CPPIB Credit Investments and Omers

3) EQT $550.48m acquisition deal for 10% stake in LSP Management Group

4) The $521.51m acquisition of Life Sciences Partners by EQT

5) Koc Holding $347.18m acquisition of 20% stake in Yapi ve Kredi Bankasi