Led by $1.66bn private equity deal with Norsk Hydro, Europe’s metals & mining industry saw a drop of 7.25% in deal activity during Q1 2021, when compared to the last four-quarter average, according to GlobalData’s deals database.

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A total of 32 deals worth $2.28bn were announced for the region during Q1 2021, against the last four-quarter average of 34.50 deals.

Of all the deal types, M&A saw most activity in Q1 2021 with 29 deals, representing a 90.6% share for the region.

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In second place was private equity with three deals capturing a 9.4% share of the overall deal activity for the quarter.

In terms of value of deals, private equity was the leading category in Europe’s metals & mining industry with $1.69bn, followed by M&A deals totalled $586.23m.

Europe metals & mining industry deals in Q1 2021: Top deals

The top five metals & mining deals accounted for a 95.7% share of the overall value during Q1 2021.

The combined value of the top five deals stood at $2.18bn, against the overall value of $2.28bn recorded for the quarter.

The top five metals & mining industry deals of Q1 2021 tracked by GlobalData were:

1) KPS Capital Partners’ $1.66bn private equity deal with Norsk Hydro

2) The $340m acquisition of Kumas Manyezit Sanayi by Eregli Demir ve Celik Fabrikalari TAS

3) Horvik’s $85.19m acquisition of Trans-Siberian Gold

4) The $63.36m asset transaction deal with Endeavour Mining by Allied Gold

5) GEM Global YieldSCS’s private equity with J.O Steel Holdings for $30.54m.