Mubasher: Despite the number of deals has been dropped 3% year-on-year during the third quarter of 2018, the value of revealed deals with disclosed value in the Middle East and North Africa (MENA) jumped 105% to $10 billion, compared to $4.9 billion in Q3-17, Ernst & Young (EY) said in a recent report.
The number of deals reached 107 deals in the three-month period ended September, from 110 deals in the same period of the prior year, the global accounting firm added.
Transaction in the GCC represented 79% of the total deal value with an amount of $7.9 billion, the report found.
Outbound deals rose to $6.4 billion in Q3-18, versus $1.5 billion in the same period the year before.
On the other hand, inbound deals rocketed to $2.6 billion, compared $28.6 million, the report added.
“While deal values are higher than 2017, the results of the latest EY Capital Confidence Barometer (CCB) show that one-third (33%) of MENA companies expect to pursue M&A in the next 12 months, a 32-percentage-point drop from a year ago. In the coming year we may see subdued deal activity and values,” Phil Gandier, MENA Transaction Advisory Services leader at EY, said.
Oil deals topped MENA’s deal value with $1.4 billion, followed by chemicals transactions with $500 million, and diversified industrial products, real estate and consumer products with $300 million, each.
