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M&A activity slows 37% across MENA in Q3 – EY

M&A activity slows 37% across MENA in Q3 – EY
Photo Credit: Arabianeye - Reuters

Dubai – Mubasher: The mergers and acquisitions activity across the Middle East and North Africa weakened during the third quarter of 2015, with a total of 91 transactions concluded, down 13% from 104 in the third quarter of 2014, showed a report issued by Ernst & Young.

The value of M&A transactions fell by 37% from $8.5 billion in Q3-14 to $5.4 billion.

The EY semi-annual index for MENA region reflects confidence in regional and global economic forecasts, despite the continued pressures on oil prices during 2015, said Phil Gandier Service Line Leader Transactions Advisory Services Middle East and North Africa.

He added that optimism about MENA economic outlook was boosted since April, 2015, as a survey showed that 18% of respondents across MENA believe the regional economy is moving in a strong revival track, compared with 6% in April 2015.