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UAE – a popular destination for mergers & acquisitions

EY MENA M&A Insights report states that UAE saw 359 M&A deals worth USD 42.6 billion in the first half of 2022.

According to an EY report, the UAE has been the most popular location for mergers and acquisitions (M&A) in the MENA region so far this year, with 105 deals having taken place totaling USD 14.2 billion.

EY MENA M&A Insights report states that UAE saw 359 M&A deals worth USD 42.6 billion in the first half of 2022, an increase of 12% year over year (YoY). This growth was “driven by continued post-pandemic economic growth across the region fostered by high oil prices and growing confidence in corporate boardrooms.”

During an interaction with zawya.com, EY MENA Strategy and Transactions Leader Brad Watson said, “Despite the global economic uncertainty, we are continuing to witness a positive trajectory in M&A activity across the MENA region as economic diversification initiated by governments continue to buoy interest in strategic transactions.”

“Fiscal reforms, particularly in the UAE and Saudi Arabia, aimed at strengthening cooperation between the public and private sector, are increasing the appetite of investors, while government-led initiatives across the board are supporting the region’s burgeoning start-up ecosystem that further increase deal activity,” Brad Watson added.

According to the research, private equity (PE) or sovereign wealth funds (SWF) engagement accounted for 35% and 38% respectively, of the overall deal volumes and values throughout the time duration.

Meanwhile, Dubai property mogul Hussain Sajwani has topped the 2022 list of Forbes richest people in the UAE for the first time after he added $300 million to his fortune.

Hussain Sajwani founded the company, DAMAC properties in 2002, comes with a net worth of $2.7 billion, and has moved two places up in the UAE. Overall, he ranks sixth in the whole of the Middle East region.

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