Private equity bought £11.9bn of European oil and gas assets last year as shift to renewable energy left them cheap
Private equity funds bought £11.9billion worth of European oil and gas businesses last year as the shift to renewable energy left industry assets looking cheap.
UK businesses made up five of the 12 deals completed in Europe, totalling around £2.4billion, according to research from law firm Mayer Brown.
Going cheap: UK businesses made up five of the 12 deals completed in Europe, totalling around £2.4billion
The North Sea was particularly popular for acquisitions.
Mayer Brown partner Bob Palmer noted that the pandemic, which initially caused crude oil prices to drop sharply, had made riskier assets 'much more attractive'.
Easy investing
Stocks & shares Isa
£1.50 fund dealing
0.25% fee on fund holdings
Investment ideas
Free fund dealing
Free fund dealing
0.45% account fee capped for shares
Flat-fee investing
No fees
From £4.99 a month
Trade shares and funds for £3.99
Social investing
Social investing
Share investing
30+ million global community
Model portfolios
Investment account
Free fund dealing
Free financial coaching
Most watched Money videos
- German car giant BMW has released the X2 and it has gone electric!
- Alfa Romeo reveals first electric sporty SUV Milano for Alfisti fans
- Iconic Dodge Charger goes electric as company unveils its Daytona
- How to invest for income and growth: SAINTS' James Dow
- Dacia Spring is Britain's cheapest EV at under £15,000
- Skoda reveals Skoda Epiq as part of an all-electric car portfolio
- MG unveils new MG3 - Britain's cheapest full-hybrid car
- Mail Online takes a tour of Gatwick's modern EV charging station
- BMW meets Swarovski and releases BMW i7 Crystal Headlights Iconic Glow
- 'Now even better': Nissan Qashqai gets a facelift for 2024 version
- Paul McCartney's psychedelic Wings 1972 double-decker tour bus
- Mini unveil an electrified version of their popular Countryman
- Why craft breweries are under threat as closures leap 49%
- Virgin Media tops list of most-complained about phone and...
- Royal Mail owner IDS rejects proposed bid from group led...
- Some drivers are forced to choose between buying food or...
- Takeaway orders at Just Eat fell 5% in the first quarter...
- Bank of England governor Bailey hints UK will cut...
- BUSINESS LIVE: UK inflation rate falls to 3.2%; Entain...
- 'Callous' crook who pretended to be an 82-year-old woman...
- House prices fell 0.2% in last year, official figures...
- Big banks ignoring new rules that let savers open more...
- Dr Martens crashes to record low after issuing fifth...
- Food inflation eases as price of meat, crumpets and...
- Louis Vuitton and Christian Dior-owner LVMH hit as luxury...
- Saga buoyed by strong demand for ocean and river cruises
- ASOS losses jump amid inflationary pressures and...
- Noose tightens on Iran... but could there be a 'Ukraine...
- Not a student? You can still bag a FREE railcard by...
- Entain's performance in the UK and Ireland dampened amid...