May 31, 2013 / 10:29 AM / 5 years ago

Global energy and power sector M&A at 4-year low

LONDON, May 31 (Reuters) - Merger and acquisition (M&A) activity in the energy and power sector has hit a four-year low with $123.9 billion in deals announced so far this year, Thomson Reuters data shows.

Energy M&A in the United States has accounted for 50 percent of worldwide activity, but in value is down 13 percent from the same time last year.

The $5.6 billion acquisition of Las Vegas-based NV Energy Inc by Berkshire Hathaway’s power production unit MidAmerican Energy is the biggest deal announced this year.

Targets in the oil and gas and power sectors have accounted for 86 percent of this year’s energy and power activity, the data shows.

Citi leads the financial adviser rankings for worldwide M&A in the energy and power sector with $25.9 billion from 24 deals, followed by Morgan Stanley with $20.3 billion from 24 deals.

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