MENA M&A Flat In Q-1 of This Year
The Middle East and North Africa (MENA) region has recorded 13 M&A’s (mergers and acquisitions) in Q-1 of Y 2016, an unchanged number from the same frae in Y 2015, a study showed on Monday.
But the total value of these deals dropped by 39.7% to US$1.5-B from US$2.5-B, said the study released by financial intelligence service Mergermarket.
The United Arab Emirates (UAE) ranked 1st with 7 deals totaling US$447-M, said the global research editor at Mergermarket.
“The highest valued UAE deal of the Quarter was the $292-M acquisition of e-Commerce platform Souq.com, by Standard Chartered Private Equity Limited, Baillie Gifford and International Finance Corporation, in a funding round that valued the company at 1 billion dollars,” she added.
Mergermarket identifies the telecommunications sector as the most targeted in the Middle East, entirely as a result of Saudi Telecom Company’s US$494-M acquisition of Kuwait Telecommunications, the highest valued deal of the Quarter.
Another sector that experienced considerable growth was the construction segment, which recorded US$135-M in Q-1 of Y 2016, compared with US$41-M in Y 2015.
Transport posted US$90-M in Q-1, compared to US$21-M in the same frame last year.
By Tian Shaohui
Paul Ebeling, Editor
Latest posts by Paul Ebeling (see all)
- Wall Street’s Top Analysts Upgrades, Downgrades & Initiations - October 28, 2016
- Chicago Agriculture Commodities Finished Higher - October 28, 2016
- The AAII Sentiment Survey for the Frame Ended 26 October 2016 - October 28, 2016