2010 Outlook for Gulf M&A Financing

On February 7, IFR hosted a roundtable discussion at the Dubai Capital Club with participants from Arabtec Holding, Morgan Stanley, Riyad Capital and Standard Chartered Bank. The subject was the outlook for M&A and capital markets in the MENA region, in the wake of the global financial crisis and in light of some well publicised regional difficulties. The bank representatives came from the firms heading the Thomson Reuters M&A, equity capital markets and syndicated lending league tables, respectively, in the MENA region for 2009. Hosted by IFR...Read more

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2010 Outlook for Gulf M&A Financing - Participants

Participants

2010 Outlook for Gulf M&A Financing - Part I

IFR: The first issue I wanted to discuss is the legacy of the global financial crisis on the MENA region. I’ll go on to ask more specifically about regional issues and how they are impacting business. Peter: how has global crisis really impacted this region? Peter Fort, Morgan Stanley: I think from an M&A perspective in particular, it has changed the landscape pretty dramatically. It is no big secret that a large portion of M&A volume was originated in Dubai and was outbound. Clearly the financial crisis has changed that and what we...

2010 Outlook for Gulf M&A Financing - Part II

IFR: Can you infer from that that perhaps valuations are a bit depressed on that basis? Peter Fort: No, that’s the interesting thing because I think there has actually been a tremendous disconnect between valuations – not necessarily here in the Dubai market where public company values remain depressed – but when you look across the globe I think a lot of clients feel that there has been valuation slippage. Public companies have got way ahead of reality and that has resulted in a fairly large buyer-seller valuation gap. Public companies are...

Roundtable

Roundtable

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