Welligence MENA M&A Quarterly Report | Bumper quarter for deal-making as Majors open their wallets
April 14, 2023
The quarter was one of the most eventful in MENA for many years. The stand-out deal was the bp and ADONC joint bid to acquire 50% of NewMed Energy for around US$2 billion. If the deal proceeds, Delek Group (NewMed’s majority shareholder) will retain a 50% stake. The transaction underlines the strong interest in the East Med, and also marks ADNOC’s debut in the international upstream space.