A recent economic report revealed that in the first half of 2023, around 318 mergers and acquisition deals were recorded in the Middle East and North Africa region, worth a total of $43.8 billion. Emirates and Kingdom of Saudi Arabia.
Ernst & Young reported today that the GCC region secured 254 of these contracts, valued at $42.5 billion.
According to the report, sovereign funds such as Abu Dhabi Investment Authority, Mubadala Company and Saudi Arabia’s Public Investment Fund continued to lead merger and acquisition deal activity in the region to support economic strategies in both countries. Countries.
Cross-border deals account for 57% of the total number of deals and 85% of their value, and their presence has grown, especially among growth-focused companies, with outbound deals accounting for 32% of the total number of mergers and acquisition deals. First half of 2023 and 70% of their value.
At the sector level, the report explained that the technology sector booked contracts worth $15 billion during the period, followed by the chemical sector with contracts worth $11.9 billion, followed by maintenance services. Providers sector with contracts worth $11.9 billion worth $3.3 billion.
The UAE continued to hold the top spot in the list of countries participating in M&A deals and deals in the region by value, followed by Saudi Arabia and Kuwait in both categories. Egypt and Oman were among the top five countries participating in deals, while Bahrain and Qatar appeared in the top five. Targeted deals by value.
Canada retained its position as the largest acquiring country outside the region by contract value, with acquisitions totaling $2.6 billion. France had the largest number of contracts for the Middle East and North Africa region, with 13 contracts in the first half of 2023. WAM
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