UAE, Saudi Arabia and Egypt lead M&A activity in Mideast

UAE, Saudi Arabia and Egypt lead M&A activity in Mideast

Middle East is a rare global sweet spot for M&A for companies, PwC report shows

In the UAE, deal activity mainly focused on consumer markets, technology, industrials and financial services, supporting the country’s drive to diversify away from oil and gas. - KT file

Published: Sat 18 Mar 2023, 2:54 PM

The UAE, Saudi Arabia and Egypt made up 89 per cent of the 632 merger and acquisition deals in the Middle East last year, a report showed.

According to a report titled ‘Gulf exceptionalism creates M&A opportunities despite global headwinds’ released by PwC Middle East, M&A activity in the region has shown a remarkable exception to the general pattern of the slowdown in global M&A deal activity.

It has successfully maintained an impressive upward trajectory in 2022, with a series of $1 billion-plus transactions taking place across different industries. This is owed to ‘Gulf exceptionalism’, which is due to favourable regional dynamics such as elevated oil prices and increased fiscal discipline that contributed to greater economic flexibility and relatively higher growth in the region.

The report highlights key M&A trends for 2023 and what companies can do to make transformational deals, showing that the Middle East is a rare global sweet spot for M&A for