African M&A excites investors

LONDON, UK – The 2013 edition of Mergermarket’s Deal Drivers Africa reports a total of 115 deals worth US$26.6bn taking place in the first three quarters of 2013 across Africa. Robust M&A activity on the continent has been supported by increasing economic diversification among a number of countries, creating untapped investment opportunities in areas such as financial services, TMT and business services.
Seven of the ten biggest deals of 2013 have been in the energy, mining & utilities sector. The largest of these transactions was China National Petroleum Corporation’s acquisition of a 28.57% stake in Eni East Africa Spa from Eni Spa, with a value of US$4.2bn. “Chinese interest in the African energy and resources sector has grown apace in recent years, thanks to China’s domestic energy consumption,” noted Kristina Thompson, Editorial Research Analyst at Remark.