Quotes: MENA   Enter Symbol: NewsLetter: Search: advanced

M&A deal value in Mena rises 76% to $17.3 billion in Q3  Join our daily free Newsletter

MENAFN - Khaleej Times - 12/12/2013
No. of Ratings : 0
Add to Mixx!



(MENAFN - Khaleej Times) The value of merger and acquisition (M&A) deals in the Middle East and North Africa (Mena) region jumped 76 per cent to 17.3 billion in the third quarter this year from 9.9 billion in the same 2012 period, Ernst & Young said on Wednesday

The value of disclosed inbound M&A deals in the region more than tripled to 3.9 billion in the third quarter from 1.1 billion in the corresponding 2012 period, EY said in its Mena M&A update.

The value of domestic deals increased by 170 per cent to 8.2 billion from 3 billion last year.

Inbound deal value tripled to reach 3.9 billion, up by 254 per cent from 1.1 billion in the third quarter of 2012. However, outbound disclosed deal value dropped by nine per cent to 5.2 billion in 2013 third quarter from 5.7 billion in the same 2012 period.

"The surge in both inbound and domestic deal values this quarter is a strong indication that the regional economy is picking up," said Phil Gandier, Mena transaction advisory services leader at EY.

He said 2013 third quarter saw the highest quarter deal values since 2008. "Investors from both within and outside the region are recognising that the fundamentals for M&A in Mena are improving. This is strengthening buying intentions across the region and could create real momentum in the M&A market."

Saudi Arabia and the UAE recorded the most number of domestic deals in the region at 13 and 12 respectively.

The telecommunications sector represented 73 per cent of the total value of all domestic deals while the oil and gas sector had the highest number and value of inbound deals worth 3.3 billion.

Etisalat's acquisition of Maroc telecoms, which represented 34 per cent of the total deal value, was one of the top deals in 2013 third quarter. The second biggest deal was the acquisition of Apache Corporation in Egypt by Sinopec International in China for 3.1 billion.

Around 21 sovereign wealth fund and private equity deals were announced in the quarter, with September recording the highest deal activity this year.

Gandier said some element of M&A caution still existed given the backdrop of the global economy and Mena geopolitical factors.

"However, there continues to be a growing corporate appetite in M&A activity due to the strong financial fundamentals of the Mena region's capital agenda as indicated by EY's recent capital confidence barometer study," he said.

The Middle East has been seeing a steady rise in deal activity throughout this year.

According to a Mergermarket report, the value of M&A activity in Africa and the Middle East reached 51.6 billion in the first three quarters of the year, matching the annual total of 2012.

 


Khaleej Times




  MENA News Headlines
 Dec 28 2014 - Saudi's RCJY signs USD107.43m dealsMENAFN
(MENAFN) The Royal Commission for Jubail and Yanbu (RCJY) announced it has signed two contracts worth USD107.43 for the construction of a residential complex for the commission staff in Ras Al-Khair ...

 Dec 28 2014 - Saudi GOSI investments hit USD14.37b in 2014MENAFN
(MENAFN) The General Organization for Social Insurance (GOSI) announced that the value of its domestic investments has exceeded USD14.37 billion in 2014, which were circulated in nearly 68 companies, ...

 Dec 28 2014 - ME tourism grows strongly after slumpMENAFN
(MENAFN) After three years of decreasing figures, tourism numbers have rebounded this year, with data from a United National agency showing 4 percent growth in the first 10 months of 2014, Arabian ...

 Dec 28 2014 - Dubai's Danube invests USD81m on tower projectMENAFN
(MENAFN) Dubai's Danube Properties announced that it will be investing USD81.6 million on its affordable luxury apartment project 'Glitz by Danube', Arabian Business reported.The project will include ...

 Dec 28 2014 - Dubai's DI to invest USD2.7b on property projectsMENAFN
(MENAFN) Dubai Investments PJSC announced it has plans to invest USD2.7 billion in real-estate projects in the next five years, due to the increase in demand for property in the emirate, Gulf ...

 Dec 28 2014 - Jewish settlers storm Al Aqsa MosqueJordan News Agency
(MENAFN - Jordan News Agency)  Groups of Jewish settlers on Sunday stormed Al Aqsa Mosque yards via the Al-Magarbah Gate.The settlers toured in groups the Mosque's yards in a provocative manner under ...

 Dec 28 2014 - Public Holiday announced for Prophet Mohammad's BirthdayJordan News Agency
(MENAFN - Jordan News Agency)  All ministries, government departments and public institutions will observe a holiday on Saturday, 12 Rabi' al Awwal, 1436 Hijri corresponding to January 3, 2015, on ...

 Dec 28 2014 - Jordan to observe holiday on New Year's DayJordan News Agency
(MENAFN - Jordan News Agency)  All ministries, public departments and institutions will observe a holiday on Thursday, January 1, 2015 on the occasion of the New Year's Day, according to a ...

 Dec 28 2014 - Cold weather forecast over next two daysJordan News Agency
(MENAFN - Jordan News Agency)  A slight drop in temperatures is expected today and the weather will be cold in the hilly areas but fair in the Jordan Valley and Aqaba.According to the Jordan ...

 Dec 28 2014 - Israeli forces arrest 11 Palestinians in West BankJordan News Agency
(MENAFN - Jordan News Agency)  Israeli occupation forces on Sunday arrested 11 Palestinians from various parts of the occupied West Bank.Palestinian sources reported that the occupation forces ...

more...


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Economic Calendar
Financial Glossary


Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help