MENAs M&A deals up 8% in H1 2011 - Ernst & Young.

By bne IntelliNews September 21, 2011
The value of mergers and acquisition (M&A) deals in the MENA region grew by 8% y/y to USD 20bn in the first half of 2011, Saudi Gazette informed citing a report by Ernst & Young. The number of M&A deals increased by 36% y/y. In Q2 alone, the number of M&A deals fell to 96 from 98 in the previous quarter, with the value declining by nearly 59% q/q to USD 5.8bn. The UAE and Saudi Arabia had the largest number of transactions in second quarter with 14 and 13 deals respectively. In terms of value, Saudi Arabia came first with nearly 42% of total deals in the region or USD 709mn, followed by the UAE with 22% (USD 378mn) and Kuwait with 16% (USD 273.1mn). The average deal size of announced M&A deals in the first half of 2011 stood at USD 240.8mn, compared to USD 215mn a year ago.
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