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Wednesday, 5 October 2016

BofA Sees Record Middle East Deals Driven by Oil Crash, Reforms - Bloomberg

BofA Sees Record Middle East Deals Driven by Oil Crash, Reforms - Bloomberg:

"As the price of oil stays stubbornly low, investors in the Middle East are turning to deals.
Mergers and acquisitions activity in the Gulf region is set to accelerate as lower oil prices force governments and corporations to consolidate fragmented industries, according to Bank of America Corp.
“The drop in oil prices has made people in the region go back to the drawing board and seriously analyze their existing portfolio and investments,” Wadih Boueiz, co-head of corporate and investment banking for Middle East and North Africa, said in a phone interview. “They are taking bold decisions to rationalize existing portfolios, reduce reliance on leverage and encourage consolidation.”"



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