UAE sovereign wealth funds dominated the M&A market this year by accounting for more than 50 per cent of the total value of deals this year, research reveals.
Globally, SWFs have entered into deals worth $17.5 billion (Dh64.2bn) in 2009 so far (until August 7, 2009), and SWFs from the UAE dominate the listings, accounting for more than $9.3bn, or 53.4 per cent, of the total deals, according to data compiled
by M&A intelligence provider Mergermarket. The UAE's International Petroleum Investment Company was responsible for $6.5bn worth of deals, while Aabar Investment and Mubadala Development Company were responsible for the remainder.
The dominance of UAE-based SWFs is in fact greater as some of the recent deals stuck by Aabar Investment, including a €100m (Dh521m) contribution to ABAG Aktiengesellschaft, a joint venture with the Austria-based Berndorf, are not strictly viewed as M&A by Mergermarket, and are therefore not part of the numbers.
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