What has happened in the M&A market in the UAE over the past three years?
Dubai has been a hub for corporate acquisitions in recent years. Several notable acquisitions have taken place in the last three years in Dubai, indicating a strong acquisitions market in the city.
In 2018, Dubai-based ride-hailing service Careem was acquired by Uber for 3.1 billion USD, making it one of the largest tech acquisitions in the Middle East. Another significant acquisition in 2018 was the acquisition of Americana Group, one of the largest food-service companies in the Middle East, by a consortium of investors led by Kuwait Food Company for 2.4 billion USD.
In 2019, GEMS Education, the largest private education provider in the world, was acquired by the Blackstone Group for 4.5 billion USD. The same year, Abu Dhabi-based firm ADQ acquired Dubai-based Dubai Cable Company (Ducab) for an undisclosed amount.
In 2020, Amazon announced the acquisition of UAE-based Souq.com, the largest e-commerce platform in the Middle East, for 580 million USD. Another significant acquisition in 2020 was Abu Dhabi sovereign wealth fund Mubadala Investment Company’s acquisition of a 1.85% stake in Reliance Industries, an Indian conglomerate, for 1.2 billion USD.
The acquisitions market in Dubai is expected to remain strong, with several industries showing growth and potential for profitable acquisitions. With the city’s strategic location, business-friendly environment, and strong infrastructure, Dubai is poised to attract more global deals in the coming years.
