UAE & Saudi Arabia Drive 88% Surge in M&A Deals in 2024

Merger and acquisition (M&A) activity in the Middle East has surged in 2024, with the value of inbound and domestic deals reaching USD 36 billion in the first 10 months. This marks an 88% increase compared to the previous year, according to Bain & Company.

This growth is largely driven by strategic investments from sovereign wealth funds (SWFs) and government-backed entities in Saudi Arabia and the UAE. The two countries alone accounted for 239 M&A deals valued at USD 24.5 billion between January and September 2024, as reported by EY.

The surge in M&A activity has been particularly notable in sectors such as energy, technology, and advanced manufacturing. The largest deal during this period was the USD 12.4 billion acquisition of Truist Insurance Holdings by Clayton Dubilier & Rice, Stone Point Capital, and Mubadala Investment.