Done Deal – Insights from our M&A and Activism team – September 2023
Insights from our M&A and Activism team
This month, our Done Deal newsletter shifts its focus to the Middle East, featuring an exclusive video interview with Ajith Henry, our financial services and capital markets lead for the region, as he delves into the evolving landscape of M&A and IPO trends locally.
Ajith, alongside our recently appointed Senior Adviser, Tim Fox, provides insightful perspectives in a paper that explores the business prospects in MENA and highlights sectors witnessing substantial investment. Additionally, we engage in a Q&A session with Senior Director, Rouaa Fadl, our Capital Markets specialist based in Saudi Arabia.
In Conversation with Ajith Henry: Investment trends in the Middle East
We hear from our Managing Director in the Middle East, Ajith Henry, who sits down with Andrea Benton to discuss the M&A and investment trends in the region and the sectors seeing the most activity.
The Energy away from Energy
If the global financial outlook at the end of the first half of 2023 is, at best, mixed, the business outlook in MENA is currently full steam ahead. Vigorous support for the goals of Abu Dhabi Vision 2030 and KSA Vision 2030 is now acting as an economic accelerant, and with an eye toward ambitious targets for the non-oil economy creating real energy away from the energy sector, driving growth, and making the UAE and KSA some of the most attractive economies in the world today for those positioned to take advantage of their opportunities and manage their risks. But where should one look for signs of this energy away from energy? Ajith Henry and Tim Fox discuss this in their most recent article.
What We’re Up To
 |  |  |
SEPTEMBER 2023 Advising Hostess on its $5.6bn sale to Smuckers | AUGUST 2023 Advising a buyer consortium led by Recco Control Technology and Dazheng Group on their $1.1bn offer to acquire Hollysys | APRIL 2023 Advising Abraj Energy on their listing on the MSX (Oman) for $300m |
Meet our Team: 30 seconds with Rouaa Fadl
What is your focus area at FTI Consulting?
My focus is on capital market advisory in a key and growing market – Saudi Arabia. I work closely with colleagues on-the-ground in Riyadh and in the wider region to advise clients from different sectors including oil and gas, utilities, among others, cement their positioning and effectively engage with key stakeholders – particularly throughout milestone transactions such as IPOs and mergers and acquisitions.
What M&A trends are you seeing in your marketplace?
Before delving into trends, it’s important we acknowledge the actual buoyancy of the MENA marketplace. While there is a visible slowdown in M&A activity globally, regional markets are on an unmatched upward trajectory with numerous deals closing north of USD 1bn in 2022 alone. Unsurprisingly, KSA and UAE are housing a substantial share of this activity with transactions growing 6% and 9% y-o-y, respectively.
From where I am sitting, energy remains at the epicentre of deal activity in Saudi Arabia – whether through providing dry powder to seal the deal or through creating new opportunities from the energy transition. From a key players stand-point, the PIF is driving much of the activity, locally and cross-border, but that’s not to discount the role private equity continues to play – especially in TMT.
As we move into the final quarter, I see no pulsing indication of a slow-down. On the contrary, I believe for the first time in this region’s history, and on the back of COP 28, we will likely see a suite of ‘green’ deals in the market.
Name one new thing you just learned from or about a colleague?
This isn’t something specific around a colleague BUT I am consistently impressed with FTI Consulting’s expansions and growth in the Middle East. We have opened new offices in established locations like Abu Dhabi and consolidated all of our FTI Consulting Brands (FTI Delta, FTI Capital Advisors and FTI Consulting) into one office in the Dubai International Financial Centre. I am excited to visit both and learn from all of my colleagues in these locations.
What do you do outside of work that helps you reset and stay sharp for the next professional challenge?
Never underestimate the power of the great outdoors! Whether in the desert or by the beach, a hike, jog or a stroll, are a quick recipe for rest and recovery. That, coupled with some positive sound frequencies from a sound bath, is my go-to any day.
Contact Us
To be added to the distribution list for FTI Consulting’s M&A and Activism Insights, or for further information on the dedicated M&A and Activism team at FTI Consulting, please contact Edward Bridges ([email protected]) Pat Tucker ([email protected]) or Alex Le May ([email protected]).
| The views expressed in this article are those of the author(s) and not necessarily the views of FTI Consulting, its management, its subsidiaries, its affiliates, or its other professionals. ©2023 FTI Consulting, Inc. All rights reserved. www.fticonsulting.com |
