MENA M&A deals up 65% to USD 55.9bn in 2010 - Ernst & Young.

By bne IntelliNews March 23, 2011
The combined value of merger and acquisition (M&A) deals in the Middle East and North Africa (MENA) region increased by 65% to USD 55.9bn in 2010, Trade Arabia reported citing a report of consultancy Ernst & Young. The number of M&A deals reached 402, up by 14% y/y. In Q4 alone, the value of deals surged by 212% y/y to USD 15.6bn, as their number rose by 117% y/y to 152. Domestic transactions represented 54% of all deals in terms of volume and 47% in terms of value. The highest number of 47 deals was announced in Egypt, followed by Jordan with 31 deals and Saudi Arabia with 30. The largest deal in terms of value was the USD 3.6bn acquisition of a stake in Basic Industries Corporation (SABIC) by Saudi Arabia's largest pension fund, the General Organization of Social Insurance. Qatar Holding's purchase of a stake in Spanish lender Banco Santander for USD 2.7bn, ranked second. The UAE was the top acquiring country both in terms of volume and value of deals.

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