25 Apr 2012
(MENAFN) Ernst & Young MENA head of transaction advisory services, Phil Gandier, stated that in the first 3 months of the year, the total value of mergers and acquisitions (M&A) in the Middle East and North Africa (MENA) region dropped 40 percent from 2011’s same period to USD8.5 billion, reported Arabian Business.
Gandier added that the two largest deals in the region were both valued at USD2 billion, the first was the purchase of a 5.63 percent equity stake in Brazil’s Grupo by Abu Dhabi’s Mubadala in March, whereas the second was the acquisition of a 40 percent stake in India’s UAE Exchange & Financial Services in February by Centurion Investment.
Moreover, France Telecom SA bought a stake in Egyptian Company for Mobile Services, valued at USD973 million.
He also said that the average deal size fell 34.7 percent to USD242.9 million from USD372.1 million in last year’s same period.
It is worth noting that M&A deals in the MENA region showed an 18.1 percent rise in the first quarter when compared to 2011’s final quarter.
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