Baker McKenzie and Legal Advisors, Abdulaziz Alajlan & Partners continue their winning streak in the Middle East, taking home three awards at the annual International Financial Law Review (IFLR) Middle East Awards in Dubai on 16 October 2019.
Global deal-making will experience a continued hangover in 2020 thanks to ongoing worldwide economic uncertainty and the risk of global recession, according to the new report by Baker McKenzie. The report also reveals that the deal flows in North America and the Middle East are outliers to the global trend.
Global M&A activity saw fewer but higher value transactions in the first half of 2019 (H1 2019), with total deal values increasing by 19% from the previous half year, while deal volumes fell by 12%. The trend was reflected in the Middle East, with total M&A deal values increasing fourfold from the last half of 2018, despite a slight dip in volumes, according to the latest report by global law firm Baker McKenzie*.
Legal Advisors, Abdulaziz Alajlan & Partners alongside Baker McKenzie, London have advised Saudi shopping mall giant Arabian Centres Company on its $748 million IPO, with an implied market capitalization of $3.3 billion, making it the Kingdom of Saudi Arabia’s largest IPO in four years. The deal, which was announced in April, closed on 20 May 2019.
Global M&A deal values soared in 2018, rising by 19% to US$4 trillion compared to 2017 values, although deal volumes dropped by 8% versus the previous year. Middle East market activity also remained robust, with a 50% increase in deal value for full year 2018, according to the latest report by global law firm Baker McKenzie*.