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Europe’s financial services industry saw a drop of 19.9% in overall deal activity during Q2 2020, when compared to the four-quarter average, according to GlobalData’s deals database.

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A total of 201 deals worth $3.46bn were announced for the region during Q2 2020, against the last four-quarter average of 251 deals.

Of all the deal types, M&A saw most activity in Q2 2020 with 122, representing a 60.7% share for the region.

In second place was venture financing with 61 deals, followed by private equity deals with 18 transactions, respectively capturing a 30.4% and 9% share of the overall deal activity for the quarter.

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In terms of value of deals, M&A was the leading category in Europe’s financial services industry with $2.67bn, while venture financing and private equity deals totalled $682.05m and $113.52m, respectively.

Europe financial services industry deals in Q2 2020: Top deals

The top five financial services deals accounted for 29.7% of the overall value during Q2 2020.

The combined value of the top five financial services deals stood at $1.03bn, against the overall value of $3.46bn recorded for the quarter.

The top five financial services industry deals of Q2 2020 tracked by GlobalData were:

1) Assicurazioni Generali’s $336.84m acquisition of Cattolica Assicurazioni Soc. Coop.

2) The $226.42m acquisition of DEPObank – Banca Depositaria Italiana by Banca Farmafactoring(formerly Farmafactoring S.p.A.)

3) Cecabank’s $187.65m asset transaction with Bankia

4) The $150m venture financing of Checkout by Blossom Capital, Coatue Management, DST Global, Insight Venture Management, Singapore sovereign wealth fund and GIC

5) Singapore Exchange’s acquisition of BidFX for $127.38m.

Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.