(MENAFN) The total M&A deal activity in the Middle East has rallied in 2017 fourth quarter, as volumes grew by 8% and aggregate value increased by 21% at $6.6 billion, in comparison to the previous quarter.
Global law firm Baker McKenzie revealed an 8% increase in cross-region M&A deal volumes with deal values developing by 85% from 2017 third quarter following the $1.06bn acquisition of Kuwait's National Petroleum Services Co.
However, Middle East deal volumes dropped 10% last year, compared 2016, with a 31% decline in deal values.
"Despite overall deal activity in the Middle East decreasing in both value and volume in 2017, the rally witnessed in the last quarter of the year was very positive, the increase in cross-border M&A deals by value and volume in the last quarter of 2017 reflect the sustained investor appetite in the Middle East," chief of Corporate/M&A at Baker McKenzie Habib Al Mulla Omar Momany stated.
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