HC Securities & Investment, a Cairo- based investment bank, is advising on three mergers and acquisitions in the Middle East as the region benefits from higher oil prices.
“We are working on three big M&As in the region that will exceed $300 million” each, HC Securities Chairman Hussein Choucri said by phone from Cairo Jan. 26. “We are very bullish on Qatar and Saudi Arabia, helped by higher oil prices.”
Average crude prices climbed 19 percent last year. Oil- exporting economies of the Middle East and North Africa may grow 4.9 percent in 2011, the International Monetary Fund said in September. The fund forecasts growth of about 19 percent in 2011 in Qatar, making it the world’s fastest-growing economy. In Saudi Arabia, King Abdullah announced last year a $130 billion plan to build homes and create jobs, adding to a commitment in 2010 to spend $384 billion over five years.
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