M&A activity in MENA region down by 66% in first quarter, says Ernst & Young

Mergers and acquisitions deals in the in the Middle East and North Africa region went down by 66% in the first quarter of 2009 compared to the same period last year.

This was revealed in Ernst and Young’s quarterly Middle East update on mergers and acquisitions, which compiles publicly available deals and values across the region.

The update revealed that M and A activity had fallen both in terms of number of deals and disclosed values. A total of 140 deals were announced in the first quarter of 2008 against 47 in the first quarter of 2009.