Mergers and acquisitions transactions in the MENA region hit $17.1 billion in the first quarter of the year, up 19 percent compared to the same period in 2020.
According to statistics released by London Stock Exchange Group business, Refinitiv, the opening three months of the year saw a record number of deals with 270, the highest start to a quarter.
Target M&A increased 55 percent from last year to $12.7 billion this quarter, the second-highest on record with only 2019 higher as the $69.1-billion deal struck between Saudi Aramco and Saudi Basic Industries Corp (SABIC) making up a large proportion.
Outbound M&A delivered a positive start to the quarter representing $3.9 billion in value and already overtaking 2020 full-year volumes. While domestic M&A experienced a 73 percent increase from last year with $9.4 billion in deal value.
The largest deal of the quarter in the MENA region was the acquisition of BP PLC-Block 61 based in Oman from Pttep Mena Ltd for $2.59 billion. Egypt was the most targeted nation with $3 billion in M&A activity, closely followed by Oman and Qatar.
Jassim Alseddiqi, CEO of SHUAA Capital, previously told Arabian Business: “My view is that even if concerns are on the rise because of global uncertainty, investors continue to be confident about the prospects of the MENA region.”
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