A recent report by Ernst & Young (EY) on mergers and acquisitions in the Middle East and North Africa highlighted that the region recorded 649 deals worth a total of $69.1 billion during the first nine months of 2025. This marks a 23% increase in the number of transactions, with Gulf Cooperation Council (GCC) countries leading the activity with 500 deals amounting to $65.9 billion.
The first three quarters of 2025 also witnessed the highest level of cross-border merger and acquisition activities compared to the same period over the past five years.
The United Arab Emirates saw the largest merger and acquisition deal in the region this year, with the announcement of the acquisition by Austria’s OMV AG and its subsidiary Borealis AG of a 64% stake in Borouge PLC for $16.5 billion.
Following that, the Abu Dhabi National Oil Company (ADNOC) acquired a 46.94% stake in Canadian chemicals company Nova Chemicals for $6.3 billion, marking one of the biggest deals in the global petrochemicals sector.
The UAE has maintained its status as the preferred destination for investors due to its business-friendly environment. The country recorded the highest number of inbound deals and the greatest total value, with 171 transactions worth $29 billion.
Both the UAE and Saudi Arabia emerged as significant players in the MENA region’s deal-making landscape, collectively accounting for 85% of the total value of outbound transactions.
According to Anil Menon, Head of M&A Advisory and Capital Markets at EY Parthenon for the Middle East and North Africa, “The UAE continues to exhibit strong momentum in foreign direct investment, driven by its stable economy and investor-friendly policies.”