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Gulf States Spearhead $42.5 Billion in Mergers & Acquisitions

GCC countries lead merger and acquisition deals (SPA)
GCC countries lead merger and acquisition deals (SPA)
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Gulf States Spearhead $42.5 Billion in Mergers & Acquisitions

GCC countries lead merger and acquisition deals (SPA)
GCC countries lead merger and acquisition deals (SPA)

The Middle East and North Africa region has recently witnessed a remarkable boom in mergers and acquisitions (M&A) deals, as a total of 318 mergers and acquisitions deals were recorded in the region, with a value of $43.8 billion.

This was shown by the recent edition of the first half report issued by Ernst Young on mergers and acquisitions in the Middle East, which indicated that the majority of these deals, specifically 254 deals worth $42.5 billion, took place within the GCC region.

On the other hand, compared to the first half of 2022, a decrease of 14% was recorded in the number of deals during this period, compared to a slight increase in their value by 0.4 %.

Ernst Young indicates that the merger and acquisition market in the first half of the year maintained its alignment with the trends observed in the latter half of 2022, despite the prevailing economic challenges, including high-interest rates, fears of a possible recession, and the inflationary environment, and geopolitical tensions, mergers and acquisitions continued. However, the report notes that dealmakers have shown a cautious approach, given the uncertain market conditions.

According to the report, sovereign wealth funds such as the Abu Dhabi Investment Authority and (Mubadala) from the Emirates, along with the Saudi Public Investment Fund, have taken the lead in driving deal activity within the region to enhance the country’s economic strategies.

These sovereign funds have played a crucial role in shaping the deal-making landscape, strategically aligning their investments with the economic goals of their countries.

The report stated that the top 10 mergers and acquisitions were concentrated in the UAE and Saudi Arabia. In March 2023, the American asset management company “Apollo Global Management” and “Asia” announced their plan to acquire the UAE-based “Univar Solutions” for $ 8.2 billion.

In the same month, Blackstone signed a definitive agreement with the Abu Dhabi Investment Authority to acquire the Emirati holding company, Cvent, for $4.7 billion.

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Business

IMF Expects to Provide Vulnerable Economies Hit by Iran War Up to $50 bn

FILED - 24 October 2024, US, Washington: The logo of the International Monetary Fund (IMF) is pictured on the facade of the conference building on Pennsylvania Street. Photo: Soeren Stache/dpa
FILED - 24 October 2024, US, Washington: The logo of the International Monetary Fund (IMF) is pictured on the facade of the conference building on Pennsylvania Street. Photo: Soeren Stache/dpa
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IMF Expects to Provide Vulnerable Economies Hit by Iran War Up to $50 bn

FILED - 24 October 2024, US, Washington: The logo of the International Monetary Fund (IMF) is pictured on the facade of the conference building on Pennsylvania Street. Photo: Soeren Stache/dpa
FILED - 24 October 2024, US, Washington: The logo of the International Monetary Fund (IMF) is pictured on the facade of the conference building on Pennsylvania Street. Photo: Soeren Stache/dpa

The International Monetary Fund expects to have to provide up to $50 billion in immediate financial assistance to countries affected by the Middle East war, its managing director said on Thursday, with the crisis likely to have lasting economic effects.

"Given the spillovers of the Middle East war, we expect near-term demand for IMF balance-of-payments support to rise to somewhere between $20 billion and $50 billion, with the lower bound prevailing if the ceasefire holds," Kristalina Georgieva said, according to prepared remarks shared with AFP.

She added that food insecurity due to transport and supply chain disruptions caused by the war was expected to affect at least 45 million people.

"Even in a best case, there will be no neat and clean return to the status quo ante," she said, as a fragile ceasefire appeared to hold on Thursday.

The IMF will pare its global growth forecast for 2026 based on the impact of the crisis, with spiraling energy costs hitting some vulnerable economies harder than others.

Georgieva said that even in the Fund's "most hopeful scenario," infrastructure damage, supply disruptions and a loss of market confidence among other "scarring effects" meant growth would be less than expected.

She highlighted the "asymmetric" effects of the crisis, hitting low-income energy importers with limited fiscal space much harder than others.

"Spare a thought for the Pacific Island nations at the end of a long supply chain, wondering if fuel will still reach them in the wake of such a severe disruption," she said.

Business

Cyprus' Aphrodite Signs 15-year Natgas Supply Deal with Egypt

A general view of a beach in Limassol, Cyprus, March 24, 2026. REUTERS/Yiannis Kourtoglou
A general view of a beach in Limassol, Cyprus, March 24, 2026. REUTERS/Yiannis Kourtoglou
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Cyprus' Aphrodite Signs 15-year Natgas Supply Deal with Egypt

A general view of a beach in Limassol, Cyprus, March 24, 2026. REUTERS/Yiannis Kourtoglou
A general view of a beach in Limassol, Cyprus, March 24, 2026. REUTERS/Yiannis Kourtoglou

Cyprus' offshore Aphrodite field signed a 15-year deal to sell natural gas to the Egyptian Natural Gas Holding Company, one of the ⁠partners in Aphrodite said on ⁠Thursday.

NewMed Energy said a binding term sheet was signed for ⁠the sale of all of the natural gas quantities recoverable from the Aphrodite reservoir with the national Egyptian gas company.

The term could ⁠be ⁠extended by another five years, Reuters quoted it as saying.

Last month, Egypt and Cyprus signed a framework agreement for cooperation on gas.

Business

Simsek: Türkiye Ready with Other Measures if War Shock Persists

FILE PHOTO: Turkish Finance Minister Mehmet Simsek speaks during a meeting of Turkish Industry and Business Association (TUSIAD) in Istanbul, Türkiye, July 11, 2024. REUTERS/Murad Sezer/File Photo
FILE PHOTO: Turkish Finance Minister Mehmet Simsek speaks during a meeting of Turkish Industry and Business Association (TUSIAD) in Istanbul, Türkiye, July 11, 2024. REUTERS/Murad Sezer/File Photo
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Simsek: Türkiye Ready with Other Measures if War Shock Persists

FILE PHOTO: Turkish Finance Minister Mehmet Simsek speaks during a meeting of Turkish Industry and Business Association (TUSIAD) in Istanbul, Türkiye, July 11, 2024. REUTERS/Murad Sezer/File Photo
FILE PHOTO: Turkish Finance Minister Mehmet Simsek speaks during a meeting of Turkish Industry and Business Association (TUSIAD) in Istanbul, Türkiye, July 11, 2024. REUTERS/Murad Sezer/File Photo

The impact on Türkiye's economy of the conflict in the Middle East may be temporary and reversible if the recent ceasefire holds, and authorities are ready with a different set of tools if the shock persists, Finance Minister Mehmet Simsek said on Thursday.

In an interview on broadcaster Haberturk, Simsek ⁠said authorities are prepared ⁠with a new response beyond steps already taken if the newly agreed US-Iran ceasefire does not hold.

According to Reuters, he did not detail the potential response but said authorities' "main scenario" was for a month-long ⁠war, adding that a three-month conflict would be bad.

This week's ceasefire has mostly halted the more than five-week war that gripped the Middle East and sent energy prices soaring, although Israel bombed more targets in Lebanon on Thursday, potentially jeopardizing the deal.

Simsek said the central bank's reserves had fallen by $48.7 billion since ⁠the ⁠war began and that some $162 billion remained. They will rebound to pre-crisis levels once the war ends, he said.

If the ceasefire does not hold, he said, the risks included global recession and stagflation, and in any case it would likely take months for disrupted global supply chains to return to pre-war levels.