Lumina’s 2025 Cross-Border M&A Survey
Ongoing deal momentum in the Middle East M&A market despite global macroeconomic uncertainties, with over 81% of deal makers anticipating stable or higher deal activity in 2026
Lumina is delighted to release its 2025 Cross-Border M&A survey. Key findings are:
Active deal-making has remained strong – 2025 saw a record first half of the year, and the sentiment amongst deal makers is that this was the same for H2
The Middle East M&A market is poised for further growth – the outlook is very positive amongst deal-makers, with 81% anticipating stable or higher levels of deal activity in 2026 despite macro uncertainties
2026 will be the breakthrough year for debt funding in regional M&A. The markets have embraced the value of leverage in M&A funding, which will drive deal volume
Business Services deals have had a standout year, and this is set to continue into 2026, with 52% of respondents identifying it as a priority sector for them
Mid-market deals dominated 2025, with this deal size the sweet spot for those investing in the region
UAE and KSA are still the most active geographies, with a noted rise in interest in exploring transactions in India
To download a copy of the report please click here.