Wednesday, Sep 12, 2012
DUBAI (Zawya Dow Jones)--The value of merger and acquisition deals targeting companies in the Middle East reached $6.79 billion in August, the highest monthly total since September 2008, according to a report from research firm Bureau van Dijk.
Deal-making last month was dominated by two transactions, the report said: Qatar Petroleum's reduction of its stake in Industries Qatar and Qatar Telecom's takeover bid for Kuwait's Wataniya. The Qatar Petroleum deal was worth $3.92 billion, while the Qatar Telecom deal was worth $2.2 billion.
Despite strong deal values, deal volume dropped in August to 16 transactions compared to 30 in the same month the year before, the report said.
Write to Asa Fitch at asa.fitch@dowjones.com
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(END) Dow Jones Newswires
12-09-12 0842GMT
