31 Mar 2010
(MENAFN) A report issued by Ernst & Young showed that mergers & acquisition (M&A) deals announced in the Middle East and North Africa region dropped 67 percent in value to $34 billion in 2009, compared to $102 billion in 2008, Khaleej Times reported.
The number of announced deals dropped from 465 in 2008 to 353 in 2009, a decline of 24 percent, said the consulting firm’s annual Mena M&A update.
The number of announced outbound deals was down from 160 in 2008 to 92 in 2009, a drop of 42 percent, while domestic deals also fell from 239 to 191 in the same period. However, the number of inbound deals increased by 6 percent – from 66 in 2008 to 70 deals in 2009.
The fourth quarter of 2009 also saw a steep fall of 73 percent in deal value compared to the corresponding quarter in 2008, the report showed.
The value of domestic deals fell by 58 percent (from $27.6 billion in 2008 to $11.6 billion in 2009), while outbound deals dropped by 72 percent (from $69 billion in 2008 to $19.3 billion in 2009). Value of inbound deals also fell by around 46 percent.
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