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Mergers & acquisitions

Adnoc said it had 'no interest in continuing the process' to buy a controlling stake in Brazil's Braskem

Adnoc ends talks to buy stake in Brazilian petchem producer 

Abu Dhabi state-owned energy company Adnoc has ended talks to buy a controlling stake in Brazilian petrochemical company Braskem. “Adnoc International Limited has no interest in continuing the process of analysis and negotiations with Novonor on the potential transaction,” the São Paulo-listed company said in a bourse filing on Monday. Following the disclosure, Braskem shares dropped […]

Executives from the UAE's Edge Group and Brazil's Condor sign the stake acquisition deal

UAE’s Edge Group buys stake in tear gas manufacturer

The UAE’s state-owned defence company Edge Group has acquired 51 percent of a Brazilian company which specialises in the manufacture of non-lethal technologies (NLT) such as tear gas and rubber bullets. Condor Non-Lethal Technologies (Condor) has presence in more than 85 countries and is the world’s largest producer of tear gas and related products for […]

e& is not actively pursuing the buyout of the Dutch company United Group, said a company spokesperson

Report links e& to acquisition of $8.6bn Dutch telco

The UAE’s e&, formerly known as Etisalat, is planning to acquire Dutch telecom operator United Group BV as part of its overseas expansion strategy, according to a media report. The Abu Dhabi-listed company has been evaluating a possible purchase of United Group, Bloomberg reported, citing informed sources. Private equity firm BC Partners, the current owners […]

Traffic on Fourth Street, Abu Dhabi. The Yahsat and Bayanat merger could help bring self-driving cars to the emirate

UAE merger creates world’s most valuable listed space company

The world’s most valuable publicly listed space company has been created after shareholders of analytics provider Bayanat and “satellite solutions” company Al Yah Satellite Communications Company (Yahsat) agreed to a merger. The deal will help to further Abu Dhabi’s ambitions to be at the centre of the drive towards autonomous vehicles. The newly created Space42 […]

GCC insurance companies may have to consolidate in the wake of payments for flooding damage in the region

More GCC insurance mergers likely after flooding impact

Consolidation in the GCC’s insurance sector – already underway because of rising competition and stricter regulations on solvency capital requirements – could be accelerated by the impact of the flooding in the region last week. Ratings agency S&P Global said this week that many insurance companies – mainly in the UAE, Kuwait and Saudi Arabia […]

Transmitter tower on the mountain of Sljeme in Zagreb – Tawal owns assets Croatia and elsewhere in Europe

Tawal merger to create giant Saudi telecom towers company

Saudi Arabia is creating a new telecommunications infrastructure company, which is expected to have 30,000 mobile tower sites and estimated annual revenues of $1.3 billion. The new entity will be created following the merger of Tawal, the largest telecommunications infrastructure company in Saudi Arabia, and Golden Lattice Investment Company (GLIC), which is majority-owned by the […]

Adnoc sought advice from investment banks on buying a significant stake in BP, a media report said

UAE’s Adnoc explored acquiring BP

Abu Dhabi National Oil Company (Adnoc) explored the possibility of acquiring British oil major BP but abandoned the plan as it did not fit into its strategic growth objectives, a media report said.  The talks did not advance beyond the initial stages, Reuters reported, citing informed sources.  The UAE state oil company also sought advice […]

Bank ABC Egypt's merger with Blom will double its number of branches and ATMs in the country

Egyptian banks complete merger but M&A activity falls

Bank ABC Egypt has announced the completion of its merger with Blom Bank Egypt, which aims to treble its market share in the North African country. The integration has doubled the size of the Egyptian network of branches and ATMs of Bahrain-based Bank ABC. It follows Bank ABC’s acquisition of a 99.5 percent stake in […]

Zambia copper mine

Abu Dhabi’s IRH completes Zambian copper mine deal

Abu Dhabi’s International Resources Holdings (IRH) has completed its acquisition of Mopani Copper Mines in Zambia and is reported to be interested in acquiring more of the country’s minerals industry. IRH is part of International Holding Company, Abu Dhabi’s most valuable company. Previous reports said IRH would invest $1.1 billion through the deal in return […]

GCC banks can save more than $3bn per year by merging branches and accelerating digitalisation

Mergers drive growth in Bahrain’s Islamic finance sector

When Al Salam Bank, one of the largest Islamic banks in Bahrain, became majority shareholder of its Algerian subsidiary last June, CEO Rafik Nayed made clear that the shopping spree was not over. Mergers and acquisitions “will remain an important pillar of our growth plans”, Nayed said – and last month Al Salam announced a […]

coffee drinking woman Agthia UAE Egypt Video length: 05:02

Agthia increases stake in Egyptian snack group

Agthia Group has raised its stake in the Egyptian snacks company Auf Group to 70 percent, the latest UAE investment in the North African country. The food and beverages group, which is majority owned by the Abu Dhabi government through the state investor ADQ, acquired a 60 percent stake in Auf Group in 2022.  In […]

The Morgan Stanley New York headquarters. The bank's local head said there are 'exciting times ahead for the Mena region'

Morgan Stanley latest US bank to set up in Abu Dhabi

Morgan Stanley is opening an office in Abu Dhabi Global Market in a bid to win more business in the Middle East and North Africa. The latest international bank to set up shop in the UAE capital’s financial centre, Morgan Stanley already has offices in Dubai, Riyadh and Doha. The lender, ranked 31st worldwide in […]

Investcorp co-CEO Rishi Kapoor. The Bahrain-based company says it is particularly interested in the Philippines, Indonesia and Thailand

Investcorp lines up diverse strategies for east and west 

Multibillion-dollar asset manager Investcorp Capital is planning listing activity from its companies in the east in the next six months, but sees more profit in mergers and acquisitions in the west. The Bahrain-based company, which was listed on the Abu Dhabi Stock Exchange in November, on Monday reported income of $34 million for the first […]

Investors at the Dubai Financial Market. Executives believe 'international strategic' buyers will be the most active in the Middle East this year

Merger activity tipped to rebound in Middle East

Mergers and acquisitions executives are expecting activity in the Middle East to rebound this year, a survey has found. M&A deals slumped last year as rising borrowing costs, global recessionary fears and geopolitical uncertainty made prospective buyers more wary.  In the first half of 2023, there were 318 deals worth a combined $43.8 billion in […]

e& has fully acquired Norway telecom-owned Telenor Pakistan, which serves 45m subscribers

e& unit buys Norway’s telecoms subsidiary in Pakistan

e&, formerly known as Etisalat, said its subsidiary in Pakistan will acquire a 100 percent stake in Norway telecom-owned Telenor Pakistan Private Limited. The transaction has an enterprise value of PKR108 billion ($380.95 million) on a cash-and-debt-free basis, the Abu Dhabi-listed telco said in a statement. e& holds a 23.4 percent stake in Pakistan Telecommunication […]

TotalEnergies has joined Octopus and Taqa in funding the Xlinks renewables project

TotalEnergies invests $25m in Xlinks

TotalEnergies announced on Wednesday that it has invested £20 million ($25.4 million) to acquire a minority stake in Xlinks, the company overseeing the £22 billion Morocco-UK renewables project.  The French oil and gas major joins fellow investors Octopus Energy and Abu Dhabi National Energy Company (Taqa), the UAE’s largest power producer, which gave a substantial […]

Sarah Jessica Parker in And Just Like That.

More deals likely to follow OSN+ and Anghami merger

The merger last week between OSN+ and Anghami will lead to more consolidation in the region’s streaming sector, industry experts have said. Kuwait’s Kipco-Panther Media Group, which operates as OSN, will combine its streaming service OSN+ with Anghami’s music and entertainment business to create one of the Middle East’s largest streaming platforms. The Europe, Middle […]

Lucy Frazer is likely to conduct a public interest test on the Telegraph bid

UK regulator likely to review Telegraph bid

Lucy Frazer, UK secretary of state for culture media and sport, has written to an Abu Dhabi-backed consortium warning that that she is likely to subject its bid for a leading British newspaper group to a public interest test.  RedBird IMI, led by Jeff Zucker, a former president of CNN, has submitted a bid for […]

Egyptian singer Amr Diab has exlusive content on the Anghami streaming platform

OSN+ and Anghami merge in $50m streaming service deal

Middle East streaming service OSN is set to invest $50 million in music streamer Anghami as part of a deal to merge the two companies. Kuwait’s Kipco-Panther Media Group, which operates as OSN, will combine its streaming service OSN+ with Anghami’s music and entertainment business to create one of the Middle East’s largest streaming platforms. […]

PureHealth has this year acquired Circle Health Group in the UK and Ardent Health Services in the US

PureHealth plans to launch IPO on Abu Dhabi exchange

Healthcare provider PureHealth Holding has announced plans to launch an initial public offering (IPO) on the Abu Dhabi Securities Exchange to fuel its global expansion efforts. The listing, likely to be in December, is subject to regulatory approvals, the UAE state-run Wam news agency reported. Existing shareholders are Alpha Dhabi Holding and International Holding Company […]