Middle East M&A cools as Egypt’s IPO pipeline heats up

This fortnight was a quiet one for M&A, and a busy one for everything else.

Teaser Middle East’s tracker caught just 10 confirmed deals between October 1 and 13 – roughly half the 21 we logged in the back half of September – with Consumer and Real Estate tied as the leading sectors on three deals each.

The slack was picked up elsewhere. Egypt’s capital markets saw a number of breaking stories: fintech MNT-Halan priced the country’s biggest IPO since 2021 at around $149m, Banque Misr filed to float a further 30% of Banque du Caire on the EGX, and Geos revived plans to list a quarter of its shares before year-end.

The region’s bigger story, though, may be unfolding in AI. OpenAI is reportedly in talks with a consortium of UAE funds including Abu Dhabi’s MGX, alongside BlackRock, for a $30bn round that could value the company near $1.4tn. 

It’s the clearest sign yet that Gulf capital intends to keep bankrolling the AI buildout even as core M&A volumes cool.

Elsewhere in the news:

• AD Ports Group completed its $835m purchase of Brazilian agri-bulk terminal operator CLI, its first strategic entry into South America.
• NEOPAY signed a definitive agreement to acquire a 65% stake in noon payments, combining two of the UAE’s largest payments platforms.
• Saudi Arabia’s Umm Al Qura agreed to sell a SAR 251.8m plot within its Masar Destination project for a planned hospitality tower, making it the fortnight’s largest Saudi real estate deal.

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Deals summary | October 1-13, 2026

The Middle East recorded just 10 confirmed deals between October 1 and 13 – down sharply from the 21 logged in the second half of September – with Consumer and Real Estate tied as the busiest sectors on three transactions apiece.

Saudi Arabia again dominated by volume, accounting for five of the fortnight’s 10 deals. Umm Al Qura’s Masar Destination project sold a SAR 251.8m plot earmarked for a hospitality tower, Saudi Real Estate Refinance Company bought its third mortgage portfolio from Banque Saudi Fransi, andRaoom Trading completed a SAR 15m purchase of an operating glass factory in Hail.

The UAE’s two deals carried outsized weight. AD Ports Group closed its $835m purchase of Brazilian agri-bulk terminal operator CLI – its largest acquisition on record and first foothold in South America – while NEOPAY signed a definitive agreement for 65% of noon payments, consolidating two of the country’s payments platforms under one roof.

Consumer deals also picked up pace: Bahrain’s Al Jazeera Group bought five branches of local supermarket chain Al Muntazah Markets, while Egyptian private equity firm Ezdehar acquired fashion retailer Consolidated Group to fold into its DalyDress platform.

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