MENA merger values climb 50% in 2018: report | ZAWYA MENA Edition:
The value of mergers and acquisitions (M&A) announced in the Middle East and North Africa in 2018 increased by 50 percent to $54.9 billion from $36.6billion in 2017, according to a new Deals Intelligence report by Refinitiv.
The 2018 Middle East and North Africa Investment Banking Analysis report states that deals involving a MENA-based company as a target were up 63 percent year-on-year to $31.4 billion - the highest level in 11 years. The was driven both by inter-regional deals, which were up 79 percent year-on-year at $16.7 billion, and by inbound M&A - up 48 percent to $14.7 billion. Outbound M&A also increased by 37 percent to $16.5 billion.
Two of the three biggest deals to be announced in 2018 involved bank mergers. The largest was Saudi British Bank's $5 billion merger with Alawwal Bank, and the third-largest was Dubai-based Emirates NBD's $3.2 billion acquisition of Turkey's Denizbank. Splitting these was Abu Dhabi state investment firm Mubadala's $3.7 billion sale of its stake in DH Publishing - the parent company of the EMI Music Publishing - to Japan's Sony Corporation.
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