ID :
99341
Mon, 01/11/2010 - 15:56
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Shortlink :
https://oananews.org//node/99341
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US$20bn merger and acquisition deals made in UAE last year
Abu Dhabi, Jan 11, 2010 (WAM)- The UAE saw more than US$20bn (Dh73.44bn) worth of merger and acquisition (M&A) deals in 2009, according to latest data. Of this, US$15.74bn, or more than 77 per cent, were acquisitions made by UAE-based firms, while the remainder was of foreign companies acquiring UAE companies according to a report by "Emirates Business."
Abu Dhabi-based International Petroleum Investment Company (Ipic) leads the charge with US$6.4bn worth of acquisitions in 2009, followed by Aabar Investments, which made US$2.93bn worth of acquisitions in 2009. Aabar is in the news again with the recent proposed acquisition of a 70 per cent stake in the Dubai-based Arabtec Holding Company.
Ipic's 32.5 per cent acquisition in April of Spain's Compania Espanola de Petroleos from Banco Santander for more than US$3.8bn was the largest M&A deal involving a UAE firm in 2009, followed by Ipic's sale of its 70 per cent stake in Hyundai Oilbank Company to South Korean Hyundai Heavy Industries in November for a tad below US$3.8bn.
Atic's US$2.9bn takeover of Singapore's Chartered Semi-conductor Manufacturing from Temasek Holdings in September; Aabar's US$2.65bn acquisition of a 9.10 per cent in Germany's Daimler in March; and Ipic's US$2bn acquisition of Canadian Nova Chemicals Corporation in February round up the top five deals in the past year involving UAE companies. – Emirates Business 24|7
Abu Dhabi-based International Petroleum Investment Company (Ipic) leads the charge with US$6.4bn worth of acquisitions in 2009, followed by Aabar Investments, which made US$2.93bn worth of acquisitions in 2009. Aabar is in the news again with the recent proposed acquisition of a 70 per cent stake in the Dubai-based Arabtec Holding Company.
Ipic's 32.5 per cent acquisition in April of Spain's Compania Espanola de Petroleos from Banco Santander for more than US$3.8bn was the largest M&A deal involving a UAE firm in 2009, followed by Ipic's sale of its 70 per cent stake in Hyundai Oilbank Company to South Korean Hyundai Heavy Industries in November for a tad below US$3.8bn.
Atic's US$2.9bn takeover of Singapore's Chartered Semi-conductor Manufacturing from Temasek Holdings in September; Aabar's US$2.65bn acquisition of a 9.10 per cent in Germany's Daimler in March; and Ipic's US$2bn acquisition of Canadian Nova Chemicals Corporation in February round up the top five deals in the past year involving UAE companies. – Emirates Business 24|7
