Egypt saw an uptick in M&A activity during H1

Egypt saw a strong pickup in Mergers and acquisitions activity during the first six months of the year, becoming one of the most popular countries in the region as the economy continued to rebound from last year’s covid shock, according to Baker McKenzie.

Egypt saw 18 transactions worth USD 1.8 bn during the six-month period, figures published by the law firm show, making it the most popular country in the region for M&A by value and the second by transaction count. Firms based in Egypt were the third most-active in cross-border M&A in our region, with eight reported during the period.

Investors from the US (21 transactions) and the UK (nine) were the most active sources of inbound investment into the region, followed by Egypt (eight transactions). Inbound M&A activity was dominated by the energy and power, consumer products and service, financial and high-tech industries, the report said.

Egyptian investors pulled the trigger on 18 transactions, followed by the UK with 11 M&As worth USD 1.7 bn. The US knocked both of them out of the top spot for volume, with 22 transactions during the first half of the year. Outbound activity was dominated by regional investors, with energy and power, retail, and tech proving the most attractive sectors.

The appetite for tech companies in MENA will continue to grow in the months ahead, Baker McKenzie’s Osama Audi said, predicting a “sustained increase” in regional and out-bound tech M&As.