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.
- Value of M&A activity down
- Middle East H1 M&A activities jumped 43%
- MENA M&A deal values drop 15% in H1 2010 to US$18.5 billion compared to H1 2009
- Egyptian tourism is increasing but figures still down on pre-revolution levels
- Disclosed M&A deal value slides from US$15.64 billion in Q3 2008 to $7.14 billion in Q3 2009: Ernst & Young