Islamic banks in the Gulf Cooperation Council (GCC) are expected to see a rise in mergers and acquisitions (M&A) in the coming years. This trend is largely driven by the need for competitive advantage and to access growth opportunities, according to Fitch Ratings. The firm’s Head of Middle East Bank Ratings and Islamic Banking, Redmond...
Emirates Telecommunications Group Company (e&) has successfully acquired a 100% stake in Serbia Broadband (SBB) for €825 million, equivalent to approximately $891 million. This acquisition was confirmed by e& on Wednesday and is viewed as a significant step in the company’s strategy to expand its presence in Central Eastern Europe. According to Zawya, the acquisition...
Mubadala Investment Company, the sovereign wealth fund from Abu Dhabi, is actively pursuing partnerships with global banks and market makers to establish a consortium of up to ten partners. This consortium will provide liquidity for a new stock exchange in Rio de Janeiro, known as the Base Exchange, according to two sources familiar with the...
Energy Capital Group (ECG), a Saudi investment firm focused on industrial services and global technologies, has completed the full acquisition of MT Enterprises through its ECG2.0-Fund2. This acquisition bolsters ECG’s industrial services platform and aligns with its commitment to local content development, technology transfer, and sustainable job creation, supporting the goals of Saudi Vision 2030...
Niantic Labs, the creator of the popular augmented reality game “Pokemon Go,” has announced that it will sell its video-game division to Saudi Arabia-owned Scopely for $3.5 billion. This move comes as Niantic shifts its focus towards geospatial technology, following challenges in replicating the success of its 2016 hit game. The sale, which was revealed...
The MENA region experienced a significant increase in merger and acquisition (M&A) activity in 2024, with a total of 701 deals valued at $92.3 billion. This marks a 3% rise in deal count compared to 679 deals in 2023, while the total deal value has increased by 7% from the previous year. The Gulf Cooperation...
The Abu Dhabi National Oil Company and Austria’s OMV have announced the creation of a new joint venture called Borouge Group International, which is valued at $60 billion. This new entity will combine their shareholdings in Borouge plc and Borealis AG and will also acquire the North American producer NOVA Chemicals Corporation for AED49.2 billion....
Dubai-listed investment bank Shuaa Capital has sold its stake in a Saudi hospitality portfolio as part of its strategy to streamline investments and reduce liabilities. The portfolio, managed by Shuaa Capital Saudi Arabia, included three properties located in Riyadh, Jeddah, and Dammam. Shuaa, which owned a 33% stake in the portfolio, finalized the sale to...