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21 Feb 2019, Stella Zlatareva, EMIS M&A Team

January's Top Deals

In a strong month for EMEA deals, the top move was announced by Abu Dhabi National Oil Company (ADNOC). The state-run oil producer agreed to sell a combined 35% stake of its refining business ADNOC Refining to European counterparts OMV and Eni in two deals for USD 2.5bn and USD 3.3bn, respectively. The purchases value ADNOC Refining, which operates the largest single refinery in the Middle East and the fourth largest in the world, at USD 19.3bn. The UAE-based group does not rule out selling further 10% in the business in the future.

The retail sector in China produced the largest deal in January, namely the reverse takeover of furniture retailer Beijing Easyhome by department store operator Wuhan Zhongshang for USD 5.5bn. For the buyer, which is listed on the Shenzhen Stock Exchange, the deal means access to the huge distribution channels of Beijing Easyhome with over 280 stores across China.

No transaction managed to reach the USD 1bn mark in Latin America last month. The biggest purchase was the acquisition of a portfolio of three co-generation plants of Alpek in Mexico for USD 801mn. The buyer, British energy group ContourGlobal, is acquiring two natural gas-fired combined heat and power plants operating in the Mexican states of Veracruz and Tamaulipas. They have a gross installed capacity of 518 MW while the third plant has a planned capacity of 414 MW.

Original source: EMIS - DealWatch