2023-08-30 11:41:13
A recent economic report revealed that the Middle East and North Africa region registered regarding 318 mergers and acquisitions deals with a total value of $43.8 billion in the first half of 2023, with 10 of the largest mergers and acquisitions in the region concentrated in the United Arab Emirates and the Kingdom of Saudi Arabia.
The report, issued today by “Ernst & Young”, stated that the GCC region acquired 254 of these deals, with a value of $42.5 billion.
According to the report, sovereign wealth funds, such as the Abu Dhabi Investment Authority, Mubadala Company, and the Public Investment Fund in the Kingdom of Saudi Arabia, continued to lead the activity of mergers and acquisitions deals in the region to support the economic strategies in both countries.
Cross-border deals accounted for 57% of the total number of deals and 85% of their value, and their presence has grown, especially among companies that focus on growth. Outgoing deals accounted for 32% of the total number of mergers and acquisitions deals in the first half of 2023, and 70% of their value.
The report indicated that in terms of sectors, the technology sector acquired the largest value deals during this period, with deals worth $15 billion recorded, followed by the chemicals sector with deals worth $11.9 billion, followed by a very large margin in the care service providers sector with announced deals worth $11.9 billion. 3.3 billion dollars.
The UAE maintained its lead in the list of countries in the region targeted for merger and acquisition deals and the list of countries participating in deals in terms of value, followed by Saudi Arabia and Kuwait in both classifications. Egypt and Oman were among the first five countries participating in deals, while Bahrain and Qatar emerged among the first five countries. Targeted deals in terms of value.
Canada maintained its position as the largest acquirer from outside the region in terms of the value of deals, with the execution of acquisitions with a total value of $2.6 billion. While France had the largest number of incoming deals to the Middle East and North Africa region, with 13 deals in the first half of 2023. WAM
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