Energy sector deals to increase, PwC says
Consolidation in the global power and gas sector sped up last year thanks to an increase in deals in and stabilization in Europe, a new study suggests. The volume of and acquisitions in 2010 rose to $116 billion, a 19 percent increase from the previous year, auditors PricewaterhouseCoopers said in a power deals study released Wednesday.
PwC said it expects this trend to continue this year.
"The reaction to date of U.S. regulators to the 2010 announced deals suggests that the door is now more open to a greater flow of regulated utility deals in the United States as companies scale up to deliver renewal and expansion programs," PwC wrote in the study. "Leading European companies will be weighing up moves to step up their international presence in growth markets. We also expect to see a continuation of outbound Chinese and Asia Pacific investment in Europe, the United States and other regions in 2011."