GCC M&A transactions up 25% to 105 in H1

GCC M&A transactions up 25% to 105 in H1

The GCC market sealed a total of 105 merger & acquisition (M&A) transactions throughout in the first half (H1) of 2022, marking a growth of 25% relative to H1 2021, said Kuwaiti financial powerhouse Markaz in a new report.

With the exception of Qatari targets, the remaining markets recorded substantial growth year over year, it added.

Caisse de dépôt et placement du Québec (CPDQ), a Canadian institutional investor, reigned the top GCC M&A transactions with the announcement of a $5 billion transaction whereby it intends to acquire a 22% stake in DP World’s flagship assets including Jebel Ali Port, Jebel Ali Free Zone and National Industries Park.

Following this is Al Salam Bank, who recorded the second largest transaction with its proposed acquisition of Ithmaar Bank’s consumer banking businesses alongside a portfolio of sukuk issued by the Government of Bahrain and the group’s indirect shareholdings in Bank of Bahrain and Kuwait, Solidarity Group Holding, Mastercard Inc. and the Benefit Company. The two parties have penned a binding agreement whereby Al Salam Bank will acquire the aforementioned assets for a total consideration of $2.2 billion.

Moreover, Etihad Etisalat Company (Mobily) said it has received a letter from Emirates Telecommunications Group Company (e&) expressing the company’s