COVID-19 has had a wide-ranging impact across all spectrums of business and economic activity, and M&A Deals have been no exception. There has been a marked impact on deal activity in Q1 2020 in the GCC/ MENA region, especially concerning the size of announced deal transactions.
The total number of deals recorded in Q1 2020 in the MENA region was in line with Q1 2019. In the first quarter of 2020, a total of 72 deals were announced, out of which only 32 deals had disclosed value. These 32 disclosed deals represented a total deal value of USD 19.9 billion in Q1 2020 primarily driven by one large-sized transaction in the Banking, Financial Services & Insurance sector (BFSI) in Tunisia for a value of USD 13 billion – ongoing acquisition of Tunisie Valeurs SA, a brokerage firm, by Banque Internationale Arabe de Tunisie, one of Tunisia’s leading banks.