Cairo – Mubasher: Merger and acquisition transactions in Egypt is expected to increase in 2017 by 22%, driven by foreign investments after the floating of the Egyptian pound, Baker McKenzie said on Monday.
In a research note, the multinational law firm said that the Egyptian market is likely to witness mergers and acquisitions worth up to $2.5 billion, compared to $2.1 billion in 2016, while the number of transactions are expected to stand at 65.
The value of initial public offerings (IPOs) is forecasted to reach $431 million this year, versus $202 million last year and $645 million in 2015.
During 2016, the Egyptian market saw 10 acquisitions valued at more than $20 billion.
