The number of merger and acquisition (M&A) transactions involving Mena-based companies fell by 63% in the first quarter of the year.
Data from Refinitiv showed that the value of transactions reached US$8.3 billion, a 65% reduction year on year from Q1 in 2022.
The number of deals in the region also fell, by 26%, making it the slowest start to the year since 2020.
There was also a decline in the region’s equity markets during Q1. Issuance reached $3.6 billion, but proceeds were down by 6%, while the number of issuances was down by 7%.
There were some increases, though, in terms of the region’s debt markets, where issuance reached $26.9 billion in Q1, almost three times the value for the same time period the previous year and the brightest opening quarter since 2021.
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