The value of M&A transactions in MENA reached $69.7 billion during the first nine months of 2022, 17 percent less than the value recorded during the same period in 2021, said Refinitiv, a London Stock Exchange Group business.
Despite the decline in value, the number of deal announcements in the region increased 5 percent from last year to the highest first nine-month total since 1980. Deals involving a MENA target totaled $37 billion during the first nine months of 2022, down 38 percent from the same period last year and a four-year low.
The number of deals declined 1 percent from last year but marked the second-highest first nine-month deal count of all time. Inbound deals involving a non-MENA acquirer declined 73 percent from last year’s all-time record of $10 billion. Domestic deals increased 14 percent in value to $28 billion, as the number of transactions exceeded 400 for the first time during any first nine-month period.
MENA outbound M&A totaled $27.9 billion, up 70 percent compared to the value recorded during the same period in 2021 and a 13-year high. The financial sector was most active, with deals targeting financial companies accounting for 22 percent of MENA target M&A during the first nine months of 2022, followed by Industrials with 17 percent. The UAE was the most targeted nation, followed by Saudi Arabia and Egypt. Citi topped any MENA involvement announced M&A financial advisor league table during the first nine months of 2022.