MENA to see busy IPO, M&A year, JP Morgan expects

M&A and IPOs will drive Middle East transactions this year, JPMorgan Chase & Co expects, according to a Bloomberg report. Private sector mergers and state sell-offs as part of privatization plans will accelerate, while corporate bond sales are also likely to rise, the bank’s regional corporate banking head Sjoerd Leenart says. “In equity markets we see levels of activity are picking up, particularly across the U.A.E. and Saudi Arabia. Across our teams we are absolutely very busy at the moment with a lot of [transactions] being worked on,” Leenart explains. He cautioned that even though the signs are positive, “mergers in the region can be difficult to close and take a long time.”