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Sunday, 20 November 2016

GCC dominates third quarter M&A activity in the MENA region | GulfNews.com

GCC dominates third quarter M&A activity in the MENA region | GulfNews.com:

"The GCC dominated deals in the third quarter, representing 92 per cent of total deal value and 77 per cent of total deal activity while the Middle East and North Africa region reported a slowdown in activity recording 74 deals amounting to $5 billion (Dh18.3 billion), compared to 98 deals amounting to $6 billion in the third quarter of 2015 according to EY’s third quarter 2016 M&A report.
According to the latest EY Capital Confidence Barometer (CCB) fewer deals are expected, even as pipelines swell. Unlike global respondents, who see a rebound in deal activity from six months ago, interest from Mena executives is on the wane, with 21 per cent expecting their company to pursue a merger or acquisition in the next year.
“Mena companies’ interest in pursuing M&As is lower compared to October last year, and is currently below the long-term average level. The key driver behind this is lower CEO confidence, given the macro-uncertainties in the Mena region. Market fundamentals that are affecting M&A performance such as low interest rate and low growth rate are still prevalent,” said Phil Gandier, Mena Transaction Advisory Services Leader, EY"



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