UAE figures among top 10 M&A deals in Mena
The UAE accounted for three deals in the list of the 10 best merger and acquisition (M&A) deals in the Middle East and Africa Region (Mena) in the first half of this year. The Emirates Global Aluminum topped the list, while Al Dar Sorouh Properties came 6th and Majid Al Futtaim Holding came 8th, according to Merger market Report titled “Mergers and acquisitions in the first quarter of 2013.”
The value of the UAE merger and acquisition deals rose by 708.6 per cent from 18 deals valued at $10.5 billion in the first half of this year compared with 15 deals valued at $1.304 billion in the first half of 2012. As many as 11 deals worth $2.1 billion were concluded in the first quarter of this year while 7 deals worth $8.3 billion were concluded in the second quarter.
The National Bank of Abu Dhabi came 12th in the list of 20 financial consultants for the value of the deals in the region. Its ranking came as a result of one deal worth $2.03 billion in the first half of this year, while Morgan Stanley came first in terms of the value and number of deals.
The report pointed out that the region accounted for the world’s highest percentage of merger and acquisition deals. The value of the deals in the region rose by 35.6 per cent in the first half of this year. The percentage came as a result of 137 deals worth $30.1 billion compared with 170 deals worth $22.2 billion in the first quarter of 2012.
According to the report, the industries and chemicals sector had the highest share of deals at 34.2 per cent worth $10.3 billion, recording a rise of 758.3 per cent over the first quarter of 2012. The share of the energy and exploration deal stood at around 31.6 per cent as a result of 23 deals worth $9.5 billion in the first half of this year, while the real estate sector claimed 7 per cent of the overall deals and the consumption sector 5.3 per cent valued at $1.6 billion.