RIYADH: Dealmakers in the Middle East adapted quickly to pandemic as merger and acquisition (M&A) activity edged higher, Al Arabiya reported, citing PwC.
M&A activity in the region increased 6 percent in 2020 compared to the previous year, bucking a downward global trend.
Globally, the number of completed deals decreased by 9 percent worldwide over the same period, as the pandemic slowed and sometimes stopped transactions, the PwC report said.
A total of 235 deals were concluded in the region last year, compared to 221 deals in 2019. More than half of the transactions were valued at less than $100 million, and 6 deals worth more than $1 billion.
Optimism is returning with the vaccination campaign launch, but recovery will vary greatly in different sectors, said Ovais Chhotani, partner in the transaction services sector at PwC Middle East.
He added that companies should focus on customers, digital transformation and localization of supply chains, as these are the main factors that will affect the merger and acquisition strategy of investors.
The report also pointed to encouraging signs of IPO activity in Saudi Arabia which is said represented another sign of confidence among investors.
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