Q1 MENA DEALS INSIGHT 1Q 2015 Quarter Highlights MENA Deal Insight 1Q2015 MENA M&A to maintain healthy growth into 2015: EY UAE seen leading mergers in the Middle East region 2014 IPOs close on a positive note, IPO delays expected in 2015 due to oil price effects: EY Investors Primed for Opening of Saudi Stock Exchange to Foreign Investment GCC, Mena firms listing on QE likely 62 percent hike in merger and acquisition deals in Qatar Contents M&A Trend Analytics... 2 IPO Trend Analytics... 3 PE Trend Analytics...4 Top Valued Deals... 5 MENA Deals Pipeline...6 mena.thomsonreuters.com
M&A Trend Analytics M&A Trend by Deal Value and Volume 69 50 55 63 34 2,084.8 1,0634.3 4,156 6,126 1,418.7 Total size of Offerings $ (M) Number of Deals M&A Sector Focus Volume Analysis M&A Geographic Focus Volume Analysis 22% 21% 3% 9% Health Care Agriculture Oil and Gas Retail Construction Services Real Estate Industrial Manufacturing Food and Beverages Financial Services Transport 19% 18% 3% 9% 9% France Italy Spain Bahrain Oman UK Qatar Jordan Egypt UAE Kuwait 2
IPO Trend Analytics IPO Trend by Deal Value and Volume 10 7 5 4 2 386.51 255 929 1691.9 7402 Total size of Offerings $ (M) No. of Issues Rights Issues Trend by Quarter 16 16 14 11 8 516 370.69 362 2,323 604 Total size of Offerings $ (M) Number of Issues IPO Geographic Focus- Volume Analysis IPO Sector Focus- Volume Analysis 1 2 5 8 Egypt Iraq Kuwait 13% 13% 31% 19% Financial Services Industrial Manufacturing Real Estate Leisure and Tourism Construction Agriculture Health Care Services 3
PE Trend Analytics Geo Focus - Buy Investments Sector Focus - Buy Investments 50% Turkey Palestinian Territories 33% Retail Industrial Manufacturing Consumer Goods Food and Beverages Health Care 33% 1 MENA PE Trend - By Deal Value and Volume 21 14 15 14 6 37 126 110 46 5.5 Deal Values $ (M) Number of Investments 4
Top Valued Deals Mergers & Acquisitions (M&A) Aquirer Country Target Country Date Deal Value Barwa Real Estate Company Q.S.C. Qatar Lusail Golf Development Company Qatar Jan-15 681 Emaar the Economic City Ports Development Company Mar-15 261 Rocket Internet AG Germany Talabat General Trading and Contracting Company WLL Kuwait Feb-15 170 Rawabi Holding Company State Holding Al Waab Real Estate Qatar Kuwait ORYX GTL Limited Qatar Jan-15 136 Zulal Investment Company Jordan A Saffa Foods SAOG Oman Feb-15 98 *Depicts deals that are complete Newly Announced Funds Fund Name Investment Focus Geographic Focus Industries of Interest CedarBridge High Growth II Growth Capital MENA Retail-Education-Healthcare FourWinds Capital Infrastructure Fund Infrastcructure Egypt Construction Jadwa Mechanical Opportunities Fund Growth Capital Industrial Manufacturing Middle East Venture Fund II (MEVF II) Venture Capital Middle East Information Technology Leap Ventures Fund I Venture Capital MENA Information Technology *Depicts Funds that are announced 5
MENA Deals Pipeline Mergers & Acquisitions (M&A) Aquirer Country Target Country Date Deal Value Kellogg Company US The Egyptian Company for Foods Egypt Jan-15 94 Al Nour For Dairy Industries Egypt The Arab Dairy Products Company Egypt Feb-15 49 Islamic Corporation for Private Sector Development Tamweel Africa Holding SA Senegal Jan-15 37 Jordan Projects for Tourism Development Jordan Moon Beach Tourism Investment Company Jordan Feb-15 31 Jordan Projects for Tourism Development Jordan Gold Coast Hotel Company Jordan Feb-15 10 *Depicts deals that are In-Process or Confirmed Top IPOs in Q1 2015 Issuer Period Country Sector Capital Raised $ (M) Orascom Construction Limited Mar-15 UAE Construction 185 Orascom Hotels & Development Jan-15 Egypt Leisure anf Tourism 71 Top Lead Manager in Q1 2015 Lead Manager Market Share Total Amount ($M) CI Capital Holding Co S.A.E 37.94% 97 HSBC Bank Middle East Limited 24. 61.6 EFG-Hermes Holding Company 24. 61.6 Beltone Financial Holding 13.82% 35.34 6
For further information, contact funds.zawya@thomsonreuters.com Important Notes MENA includes Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Morocco, Oman, Palestine, Qatar,, Tunisia and UAE. Transactions are counted within the analysis as per their subscription start (open date). PE Data included funds investing more than 50% of their assets in the MENA Region and managed from the region. Data is correct as of (to mention date of publication). Prepared by MENA Deals Team. 2015 Thomson Reuters. Thomson Reuters and the Kinesis logo are trademarks of Thomson Reuters and its affiliated companies. S025634 0915.