M&A deals in Qatar reach $139.3m in March: KPMG – The Peninsula

M&A deals in Qatar reach $139.3m in March: KPMG – The Peninsula

Mergers and acquisitions (M&A) transactions which have been closed by Qatari investors in March stood at $139.3m, according to a KPMG report.

In its monthly Merger & Acquisition Deals tracker for the GCC region, KPMG noted that two M&A deals which have been closed by Qatari investors in March targeted the telecom, media, and telecom (TMT) as well as the consumer and retail sectors.

These include the $121m Series D funding led by Qatar Investment Authority (QIA) for Turkey-origin and Singapore-based Insider PTE, and Baladna’s $18.3m acquisition deal for a 5 percent stake in Egypt’s leading dairy company Juhayna Food Industries.

Insider PTE, an artificial intelligence (AI) company has become one of the most recent tech startups to join the ‘unicorn club’ after the successful Series D funding round led by QIA has raised the company’s valuation to $1.22bn. The company serves customers worldwide with brands such as Toyota Motor and Vodafone Group among its clients.

Meanwhile, Baladna has also recently announced it has acquired a 5 percent stake in the Egyptian Juhayna Food Industries Company, with total shares acquired amounting to about 47.117 million shares.

The company also stated that its ‘investment decision was based on a very accurate analysis of the market that