MENA M&A Soars in H1 2025: Borealis Leads with $30.85 Billion Deal
Deal News | Jul 08, 2025 | EIN
In the first half of 2025, mergers and acquisitions (M&A) involving the Middle East and North Africa (MENA) reached $115.5 billion, marking a 149% increase compared to the same period last year and the highest first-half total since 1980, according to LSEG Deals Intelligence. The region saw a 16% rise in the number of deals, underscoring resilience amid global uncertainty. Driven by strong sovereign capital and strategic diversification, the UAE and Saudi Arabia were leading countries in deal-making, with significant acquisitions such as Borealis AG's $30.85 billion acquisition of Borouge PLC. The materials sector led in value, driven by the ADNOC-OMV merger. Rothschild topped the financial advisor league table for announced MENA M&A in H1 2025, advising on $76.1 billion worth of deals.
Sectors
- Financial Services
- Materials
- Energy
Geography
- Middle East and North Africa (MENA) – The article primarily discusses M&A activities within the MENA region.
- United Arab Emirates – A major deal mentioned was Borealis AG's acquisition of Borouge PLC in the UAE.
- Saudi Arabia – Saudi Arabia was noted as a leading country in deal-making value and activity in the MENA region.
Industry
- Financial Services – Mergers and acquisitions are a major activity within the financial services industry, highlighting the role of investment banks and advisors like Rothschild.
- Materials – The materials sector dominated MENA-targeted M&A by value, with significant transactions such as the ADNOC-OMV merger influencing the total transaction value.
- Energy – Energy, particularly clean energy investments, was identified as a significant area of ongoing and anticipated deal activity in the MENA region.
Financials
- $115.5 billion – Total M&A value in the MENA region for H1 2025.
- $30.85 billion – Value of Borealis AG's acquisition of Borouge PLC.
- $39.8 billion – Total M&A deal value targeting the UAE.
- $3.5 billion – Total M&A deal value targeting Saudi Arabia.
- $64.5 billion – Total value of MENA outbound M&A in H1 2025.
- $3.3 billion – Value of deals in the financial sector within MENA.
- $76.1 billion – Value of deals advised by Rothschild, leading the MENA financial advisor league table.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Borealis AG | Bidding Company | Company | Involved in the $30.85 billion acquisition of Borouge PLC. |
| Borouge PLC | Target Company | Company | Targeted by Borealis AG in a significant $30.85 billion acquisition. |
| Rothschild | Financial Advisor | Company | Led the financial advisor league table for MENA M&A in H1 2025. |
| Goldman Sachs | Financial Advisor | Company | Ranked second in the financial advisor league table for MENA M&A in H1 2025. |
| Citi | Financial Advisor | Company | Ranked third in the financial advisor league table for MENA M&A in H1 2025. |
| Morgan Stanley | Financial Advisor | Company | Ranked seventh in the financial advisor league table for MENA M&A in H1 2025, down from the first position in H1 2024. |
| LSEG (London Stock Exchange Group) | Data Provider | Company | Provides Deals Intelligence, tracking M&A data used in the report. |
| Norton Rose Fulbright (Middle East) LLP | Legal Advisor | Company | Zubair Mir, Senior Partner, commented on MENA M&A trends. |