Aramco Megadeal Takes Middle East M&A Volume Near Europe Levels - Bloomberg:
In a matter of days, the Middle East has turned the tables on global M&A.
Acquisitions involving targets in the Middle East and Africa are up more than six-fold this year to $103.4 billion, according to data compiled by Bloomberg. That’s inching closer to acquisitions of European companies, which are down 50 percent to $114.7 billion, the data show.
Saudi Aramco, the world’s biggest oil producer, on Wednesday agreed to buy a majority stake in chemical giant Saudi Basic Industries Corp. for $69.1 billion, marking the Middle East’s biggest deal. It came just one day after Uber Technologies Inc. agreed to buy Dubai-based rival Careem Networks for $3.1 billion in the region’s largest technology transaction.
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