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UAE acquisitions, mergers at AED 100bn in 6 yrs

UAE acquisitions, mergers at AED 100bn in 6 yrs
The latest merger was between MFS and Dubai-based Al Safwa (Photo Credit: Arabianeye-Reuters)

Dubai – Mubasher: The UAE saw the completion of 73 acquisitions and mergers worth AED 100 billion during the six-year period from 2010 to 2016, according to a study by Truth Economic Consultants in Abu Dhabi.

The coming period will witness more acquisitions and mergers among major firms operating, especially in the insurance, brokerage, banking and industrial sectors, in Abu Dhabi and Dubai, the study revealed.

The latest merger was between Mubasher Financial Services (MFS) and Dubai-based Al Safwa Islamic Financial Services.

Mergers in Abu Dhabi and Dubai will not lead to an absolute monopoly of a specific company in any sector as the competition law limits the emergence of cartels, according to Reda Muslim, a managing partner at the consulting firm.

Mergers and acquisitions will lead to an increase in production efficiency and higher profits, as well as entering new markets.