GIC and Oak Street Real Estate Capital’s $18.65bn private equity deal with STORE Capital was the construction & real estate industry’s biggest cross border deal of Q3 2022 as cross border deals worth $27.4bn were announced globally in the quarter, according to GlobalData’s deals database.
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The value marked an increase of 24.5% over the previous quarter and a rise of 23.5% when compared with the last four-quarter average of $22.15bn.
In terms of number of cross border deals, the sector saw a drop of 39.20% with 140 deals in Q3 2022 against the average of 230.25 deals in the last four-quarters.
In value terms, Europe led the activity with cross border deals worth $20.4bn.
construction & real estate industry cross border deals in Q3 2022: Top deals
The top five construction & real estate industry cross border deals accounted for 86.3% of the overall value during Q3 2022.
The combined value of the top five cross border deals stood at $23.61bn, against the overall value of $27.4bn recorded for the quarter.
The top five construction & real estate industry cross border deals of Q3 2022 tracked by GlobalData were:
1) GIC and Oak Street Real Estate Capital’s $18.65bn private equity deal with STORE Capital
2) The $2.2bn acquisition of Companhia Siderurgica do Pecem by ArcelorMittal
3) Coller Capital and Hahn &’s $1.5bn private equity deal with Ssangyong C&E
4) The $687.23m acquisition of IBI Group by Arcadis
5) Actividades de Construccion y Servicios’s $577.08m acquisition deal for 14.5% stake in HOCHTIEF