M&A transaction value slumps 65% in MENA, hits $8.3bln in Q1

M&A transaction value slumps 65% in MENA, hits $8.3bln in Q1

The value of announced M&A (mergers and acquisitions) transactions with any Mena involvement slumped yoy 65% reaching $8.3 billion during the first quarter of 2023. Saudi Arabia was the most targeted nation, followed by UAE and Egypt.

The number of deal announcements in the region also fell 26% from last year, making it the slowest start to a year since 2020, said Refinitiv, an LSEG (London Stock Exchange Group) business.

Deals involving a Mena target fell to a seven-year low and totalled $2.9 billion during first quarter of 2023, down 75% from a year ago. The number of deals declined 22% from last year and marked the lowest first quarter deal count since 2020. Inbound deals involving a non-Mena acquiror declined 72% from a year ago to $742.3 million, while domestic deals fell 76% in value to $2.2 billion.

Mena outbound M&A totalled $5.0 billion, down 46% compared to the value recorded during the first quarter of 2022.

The industrials sector was most active, with deals targeting industrial companies accounting for 45% of Mena target M&A during first quarter of 2022, followed by the consumer products & services sector with 15%.

Morgan Stanley topped the any Mena involvement announced M&A financial advisor league table during