{"id":88978,"date":"2024-02-13T00:00:00","date_gmt":"2024-02-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/ma-activity-continued-to-grow-in-the-uae-and-the-mena-region-in-2023-ey\/"},"modified":"2024-02-13T00:00:00","modified_gmt":"2024-02-13T00:00:00","slug":"ma-activity-continued-to-grow-in-the-uae-and-the-mena-region-in-2023-ey","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/02\/13\/ma-activity-continued-to-grow-in-the-uae-and-the-mena-region-in-2023-ey\/","title":{"rendered":"M&A activity continued to grow in the UAE and the MENA region in 2023 -EY"},"content":{"rendered":"

The UAE was investors\u2019 preferred destination for acquisitions in 2023<\/strong> thanks to \u201cits business-friendly regulations and efficient legal framework,\u201d writes EY in its 2023 MENA M&A Insights update<\/a>. The UAE and Saudi Arabia saw a combined 305 transactions worth USD 24.8 bn in total, with the UAE seeing the largest acquisition of the year in the region, Apollo Global Management\u2019s USD 8.2 bn acquisition<\/a> of Univar Solutions. <\/p>\n

Mubadala + ADIA among the biggest drivers of M&A activity: <\/strong>Abu Dhabi Investment Authority (ADIA), Mubadala, Saudi Arabia\u2019s Public Investment Fund (PIF), and the Qatar Investment Authority led regional M&A activity with a focus on \u201cnational development and investing in sectors of the future,\u201d EY MENA Strategy and Transactions Leader Brad Watson said. <\/p>\n

UAE investors ? the US: <\/strong>Emirati investors targeted American firms in 21 transactions worth USD 15.3 bn, EY said.<\/p>\n

MENA countries closed mergers and acquisitions worth USD 86 bn in 2023<\/strong>, up 4% from the year before despite regional tensions and global economic uncertainty. <\/p>\n

Which sectors saw traction?<\/strong> Tech transactions led the pack, with 141 M&As recorded in 2023, while the energy and resources sectors \u2014 including metals and mining, oil and gas, and chemicals \u2014 also saw \u201csignificant capital deployment.\u201d<\/p>\n

Most came from the GCC: <\/strong>Gulf nations closed 565 transactions, worth some USD 83.2 bn.<\/p>\n

Lots of cross-border and domestic transactions: <\/strong>Cross border M&As made up 72% of the total value of M&As in 2023, with North America remaining the largest acquiring region by value \u2014 with transactions totaling USD 2.7 bn \u2014 and largest number of inbound MENA transactions \u2014 with 32. Domestic transactions made up 49% of the total volume of MENA M&As. <\/p>\n

Outbound transactions accounted for the lion\u2019s share of value of transactions<\/strong>, with 208 outbound M&As worth a total of USD 53.5 bn, the report said.<\/p>\n

Looking ahead: <\/strong>\u201cWe expect M&A activity in MENA to remain robust in 2024 given continuingsecular trends around energy transition and digitalization of everything,\u201d Watson said. <\/p>\n","protected":false},"excerpt":{"rendered":"

The Emirates saw 21 M&A transactions worth some USD 15.13 bn in 2023<\/p>\n","protected":false},"author":1,"featured_media":88979,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2392],"tags":[185,7,25,60,1343],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88978","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch-2","tag-adia","tag-enterpriseam-uae","tag-investment-watch","tag-ma-watch","tag-mubadala","wpautop","entry"],"acf":{"mongo_id":"2fd1a985-1371-4af9-9110-befbcf2e076a","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/1922.jpg","photo_position":"above","homepage_title":"","full_issue_title":"M&A activity continued to grow in the UAE and the MENA region in 2023 -EY","related_issue":[88969],"teaser":"The Emirates saw 21 M&A transactions worth some USD 15.13 bn in 2023","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.5428c71a-0a50-4694-ab8a-39d83cc7ec05.mp3"},"yoast_head":"\nM&A activity continued to grow in the UAE and the MENA region in 2023 -EY - 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