Harsh Batra
The Middle East started the year doing what it does best: getting deals done.
Between 18 December and 12 January, our curation captured over 45 transactions across the region, with energy, infrastructure and real assets standing out as the most active segments (from power generation and utilities to transport) logistics and data infrastructure.
This momentum sits well with the broader picture.
S&P Global notes that M&A activity in the MEA region recorded a strong year-on-year increase in deal values in 2025. While the number of transactions fell from 334 to 280, aggregate deal value jumped 75% to USD 43.8bn, underscoring a market increasingly driven by fewer, larger and more strategic moves.
This week’s edition reflects that dynamic clearly:
- Renewables consolidation keeps moving, with Alcazar emerging as a front-runner to acquire Egypt’s Gabel El-Zeit wind complex, a transaction that would rank among the largest cross-border clean energy deals linking Gulf capital to North African assets.
- Operational transition reshapes deal dynamics, as Basra Oil temporarily steps in to operate West Qurna 2, opening the door to a potential divestment of Lukoil’s 75% stake and bringing one of the world’s largest oilfields back into play.
- Digital assets continue to attract strategic buyers, with CoinMENA’s sale to Turkey’s Paribu highlighting how regional platforms are becoming consolidation targets rather than standalone growth stories.
Open the full wrap up and see every deal in our tracker.
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Deals Tracker
M&A Abroad
- Saudi Arabia | SABIC is selling its Americas and Europe units and expects a SAR 18.3bn non-cash loss
- Saudi Arabia | ACWA Power has signed deals to buy wind projects in China
- UAE | Solmate has signed a term sheet to acquire RockawayX (>$2bn combined AUM)
- Qatar | QIA is joining a $7.4bn take-private of Janus Henderson at $49/share
- Saudi Arabia | The UK CMA doesn’t look set to raise concerns over a Saudi-led bid for Electronic Arts
The rumour mill
- Saudi Arabia | Enaya says the creditor objection window for the Salama merger has closed
- Saudi Arabia | MEPCO has called off the Al‑Medan acquisition after terms weren’t met
- Saudi Arabia | Tihama has dropped its Dan Diamond acquisition plan
- Saudi Arabia | Fakeeh Care has disclosed what it paid for its stake in Diagnostics Elite
- Qatar | Cathay is set to buy back shares as Air China sells 1.61% (HK$1.32bn)
- Saudi Arabia | Bupa Arabia’s board is backing a split into two companies
- Iraq | Basra Oil is going to run West Qurna 2 for 12 months as Iraq looks for a buyer for Lukoil’s 75% stake
- Saudi Arabia | stc and HUMAIN are teaming up on a data-centre JV to support 1GW of AI workloads
- Saudi Arabia | Elm is increasing its stake in Sahl Almadar (Madar)
- Qatar | QNB has just launched its first sonic brand identity
IPOs
- UAE | ALEC has set an IPO price range, aiming to raise up to $381m
- Kuwait | Action Energy is planning an IPO in Kuwait
- Saudi Arabia | Alramz fell 14% on its TASI debut
- Saudi Arabia | KDL Logistics’ Nomu IPO was 102% oversubscribed
- Kuwait | EFG Hermes has completed Action Energy’s private placement and Boursa Kuwait listing
Fundraising
- Egypt | edtch Business For Teens has closed a funding round to expand in the GCC
- Egypt | GRANITE is launching a real-estate investment fund
- Saudi Arabia | Red Sea Global and Bunat Ventures are launching an AI-focused venture fund
- Egypt | AMEA Power and Kyuden have secured about $570m for 1GW solar plus 600MWh of storage
- UAE | ADNOC has secured up to $11bn of structured financing for Hail & Ghasha
