Cairo – Mubasher: Mergers and acquisitions (M&As) are likely to get a boost in the Egyptian market next year, ranking third in terms of combined value in the region.

Egypt’s M&A business is expected to reach $1.372 billion in 2019, whilst trans-border M&As are likely to stand at $2.93 billion and rise to $3.14 billion in 2020, according to a recent report by Baker McKenzie.

On the other hand, the report projected initial public offerings (IPOs) in the North African country to amount to $555 million next year. However, the value is likely to slump to $304 million in 2020.

Moreover, the report praised the performance of the Egyptian economy, the ongoing reforms, and the financial and investment incentives that support the business recovery in the Arab world's most populous country after years of turbulence.

Additionally, the report expected M&A business to reach around $13 billion in Africa, the world’s second most populous continent.