First nine months of 2021 show MENA M&A activity hitting $68.6bln: Refinitiv | ZAWYA MENA Edition

First nine months of 2021 show MENA M&A activity hitting $68.6bln: Refinitiv | ZAWYA MENA Edition

Mergers and acquisitions (M&A) announced during the first nine months of 2021 with some degree of MENA involvement totaled $68.6 billion, a 17 percent increase from the same period last year and just $660 million short of the full-year total last year, according to global data provider, Refinitiv.

M&A involving a MENA target reached $46.8 billion, up 2 percent compared to the same period last year, and the highest number of deals on record in the first nine months of a year.

The largest M&A with a MENA target this year is the $12.4 billion deal of Saudi oil producer Aramco selling a 49 percent stake in its pipelines business to the US based EIG Global Energy Partners, the data provider said in a report.

A newly formed unit called Aramco Oil Pipelines Company will lease usage rights in the Saudi oil giant’s stabilized crude oil pipelines network for 25 years.