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06-11-14

GCC states M&A deals hit USD8.9b in 9M

(MENAFN) According to Merger Market, the world's leading intelligence and news service for mergers and acquisitions, the GCC countries have recorded USD8.9 billion worth of merger and acquisition deals during the January-September period of this year, a decline by 38.6 percent compared with the same period last year, in which deal values totaled USD14.5 billion, Khaleej Times reported.

Merger Market said that the real estate sector in the GCC has showed particular strength in 2014, with five real estate deals being done in the region during the January-September period, which two more than during the same period last year, with these deals accounting for 54.1 per cent of total M&A deals.

Meanwhile, the global M&A market posted an increase by 11.7 percent compared to the same period last year, with the value of global deals during the first nine months of this year reaching USD2.486.1 trillion, thus making it the third highest annual value on record after 2006 and 2007.

Globally the energy, mining and utilities sector was the strongest, with deals at a worth of USD423 billion being done by the end of third quarter of this year, which is an increase by 35.6 percent compared to the same period last year.

"With the news that the CMA will be opening Saudi Arabia's market to foreign investment, and the upgrade of Qatar and the UAE to emerging markets on the MSCI Index, we expect to see growth in the region's transaction landscape in 2015," Merger Market said.

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