August 2010: M&A deals amount to US$ 941 million
According to Zephyr Monthly Review, the value of M&A deals targeting the Middle East trebled month-on-month to US$ 941 million in August 2010, though the result was flattered by a poor result from July 2010 and stood just 4 per cent higher than the USD 908 million recorded in August 2009. There was a strong monthly gain in value despite deal volume being down 28 per cent from 76 transactions to 55. Meanwhile, the number of deals targeting companies based in the Middle East has doubled since August 2009.
Lebanon accounted for 58 per cent of total deal value in August with a total of USD 542 million coming from just one transaction – EFG-Hermes's purchase of a majority stake in Crédit Libanais. Saudi Arabia was second-placed by value with USD 331 million compared to just USD 36 million in July 2010.
- Shoura Council: Expats cannot buy property in Mecca, Medina, Riyadh
- Tensions increase between Egypt, Italy over renewable energy projects
- In wake of failed coup, Turkey shuts down all Gulen-linked businesses
- Saudis, Jordanians top the list of Arab property buyers in Dubai
- Mandatory health insurance required for Dubai residents
- Time for a deal? Sudan discloses that $48.2m of its assets are frozen under US sanctions
- Software AG reports record results for fiscal year 2010
- EFG Hermes buys majority share in Crédit Libanais
- Jordan’s Investment Promotion Law attracted JD800 million worth of investments in 1999
- AUB to repay US$ 400 million of debt