Volumes steady as prices slump.
The value of deals targeting the Middle East fell by almost 100% in April, new research has shown.
Zephyr’s Middle East Month in Review highlights a 91% decline in the value of deals targeting the region.
A total of 27 transactions valued at US$463mn were announced in the four weeks to April 28th – the lowest monthly value result since July 2009.
The decline wiped out strong gains made in March, when combined deal value was up more than fourfold to US$5.2bn from around US$1.2bn in February.
By comparison, deal volume slipped by just 7% from 29 deals in March, illustrating the extent to which value was stripped from Middle East M&A over the same period.
Oman was one of the leading countries in the region by volume and value, with seven deals worth US$142mn - a 75% month-on-month increase in volume and a 600% gain year-on-year. Kuwait was also prominent with US$263mn spent across six deals.
Lebanon was also a major investment target in monetary terms with US$52mn from the two deals involving companies based in the region.
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