Markaz: CPDQ reigns the top GCC M&A transactions for H1 2022 with the acquisition of a minority stake in DP World’s flagship assets

Markaz: CPDQ reigns the top GCC M&A transactions for H1 2022 with the acquisition of a minority stake in DP World’s flagship assets

Kuwait: Caisse de dépôt et placement du Québec (CPDQ) leads the top GCC M&A transactions during H1 2022 as per a report recently issued by the Investment Banking Department at Kuwait Financial Centre “Markaz”. The report highlights the USD 5.0 billion transaction that was announced by the Canadian company whereby it intends to acquire a 22% stake in DP World’s flagship assets. These assets include 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. Note, the two parties have penned a binding agreement whereby Al Salam Bank will acquire the aforementioned assets for a total consideration of USD 2.2 billion. Moreover, Etihad Etisalat Company (Mobily) announces it has received a letter from Emirates Telecommunications Group Company (e&) expressing the company’s interest in acquiring an additional stake in the company for USD 12.5 per Mobily share. If successful, e& would raise its holdings from 28% to 50%