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Sat 14 Nov 2009 03:17 PM

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UAE’s M&A deals see 29% drop in 2009 - paper

Mergers & acquisitions involving UAE firms stands at $14.75bn at Oct-end.


Mergers and acquisitions (M&A) activity involving UAE firms is down more than 29 percent year-to-date compared with the same period in 2008, according to a report.


The Emirates Business revealed that as per Mergermarket data, the M&A deals featuring entities in the UAE has declined to $14.75bn (AED54.13bn) at the end of October from $20.87bn during the corresponding period of last year.


According to the business daily, the data shows the UAE firms have been more active than their international counterparts as global M&A activity was down more than 46 percent, from $1.97 trillion in the first three quarters of 2008 to $1.06 trillion in the same period of 2009.


Emirates Business noted that defying global trends, the Middle East M&A activity, was up 18.8 percent, from $12.48bn in the first three quarters of 2008 to $14.83bn during the same period in 2009.


The International Petroleum Investment Co's $3.8bn buyout of a 32.5 per cent stake in Spain's Compania Espanola de Petroleos on March 31, is the top UAE deal by value so far, the daily added.


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