The Emerging Markets of the Middle East

Mergers, acquisitions and joint ventures in the Middle East have developed rapidly between 2000 and 2008, driven by strong economic growth, increasing openness to foreign investment and an appetite for deals among local and foreign investors. Given restrictions on foreign ownership, M&A activity has been nearly all by companies from within the Middle East, whereas outside investors have entered into joint ventures. Over time, greater openness will make M&A as well as joint ventures valid options for international investors. Although deal volumes have reduced significantly during the global financial crisis (2008 - 2010), the Middle East will continue to be a highly attractive emerging market, characterized by rapid growth, improved regulation and significant oil wealth. This book provides a clear step-by-step framework for defining and implementing direct investment strategies in the Middle East, illustrated with examples and cases in each chapter. Regional considerations, such as cultural differences, legal aspects and local market structures will be dealt with throughout.