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FINANCIAL NEWS
M&A in ME reach six-year high
29 Aug 2013
(MENAFN) Mergers and acquisitions (M&A) in the Middle East is at a six-year high and will be driven further by sovereign wealth funds and regional transactions, Times of Oman reported.
Deals at the value of USD39.1 billion were made in the Middle East in 2013 registering a 15 percent jump from the prior year.
Mubadala Development in Abu Dhabi announced that it will buy shares in Dubai Aluminium for USD15 billion. In July, Aldar Properties bought a stake in Sorouh Real Estate. Ooredoo, formerly known as Qatar Telecom, acquired 200 million shares in Kuwait’s National Mobile Telecommunications, Wataniya, for USD1.8 billion.
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