Awards for Excellence 2020
As the Middle East enters a new phase of development, one in which governments can no longer rely on endless petrodollars and in which economies built on global trade and travel will have to adapt to survive, it will need banks with outstanding M&A and advisory capabilities. Citi is such a bank.
Having stepped up efforts in the Middle East two years ago, the US bank has started to see this bear fruit across the board. In 2019 it ranked first in the Middle East’s M&A league table – advising on the region’s most transformative transactions.
In February, Citi advised Abu Dhabi Power on its reverse merger into Taqa. The new entity will be one of the largest utilities companies in the Gulf Cooperation Council area and a top 10 integrated utilities player in the Europe, Middle East and Africa region.
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Miguel Azevedo |
Another transaction of note was the Ahli United Bank (AUB) merger with Kuwait Finance House.