The value of mergers and acquisitions in the Middle East declined by over 71 percent to $1.8 billion in the first quarter, when compared to the previous period, according to a report by Mergermarket, an intelligence and news service for mergers and acquisitions.
Nine deals in total were completed during that time, and the latest figure marked a three-year low.
The report also said that $1.5 billion of the total deal value accounted for was related to the demerger of Egypt’s Orascom Construction to OCI NV shareholders in the Netherlands.
However, the outlook for the rest of the year is strong, with analyst predicting a growth in both deal value and volume. Deal flow is expected to increase 10 percent this year, according to MENA transaction advisory services leader for EY, Phil Gandier.
Egypt is expected to see an increase in M&A activity over the next few quarters.
Activity outside the region was dominated by Qatar, which has already made two deals worth $1.9 billion, representing 46.4 percent of Middle Eastern investments outside the Middle East.
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