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PRESSR: Markaz: Coinbase secures the leading M&A transaction in H1 2025
PRESSR: Markaz: Coinbase secures the leading M&A transaction in H1 2025
About this update from Gulf Bank K.s.c.
Kuwait: Coinbase Global, Inc. (Coinbase) leads the top GCC M&A transactions during H1 2025 as per a report recently issued by the Investment Banking Department at Kuwait Financial Centre “Markaz”. The report highlights the USD 2.9 billion transaction that was announced by the American company whereby it revealed its plans to fully acquire Deribit FZE, the Dubai-based crypto derivatives exchange. The transaction marks the largest deal in the crypto industry to date. In the second position, Group 42 Holding (G42) secured the second-largest transaction by finalizing its acquisition of the remaining 40% stake in Khazna Data Center Holdings Limited (Khazna) from Emirates Telecommunications Group Company (e&), valued at USD 2.2 billion. Established in 2022 by G42 and e&, Khazna is a leading developer and operator of wholesale data centers. Warba Bank took on the following transaction, acquiring 33% of Gulf Bank through the full acquisition of Alghanim Trading Company for a total transaction value of USD 1.6 billion. After the acquisition, Warba Bank and Gulf Bank have begun assessing a potential merger between the two banks to establish a larger shariah-compliant financial institution. Moreover, CVC DIF and National Central Cooling Company have formed a 50:50 joint venture to acquire 100% of PAL Cooling Holding L.L.C. (PAL) for a total consideration of approximately USD 1.0 billion. PAL is a leading district cooling provider in the UAE that delivers services to residential, commercial, and mixed-use developments. Lastly, ACWA Power has acquired stakes in power generation and water desalination assets in Kuwait and Bahrain from ENGIE for a total consideration of USD 693.0 million. The assets include stakes in Az-Zour North (Kuwait), Al Ezzel (Bahrain), Al Durr (Bahrain), and Al Hidd (Bahrain). The target entities own and operate gas-fired power plants with a combined capacity of 4.6 GW and water desalination facilities with a combined capacity of 1,114 thousand cubic meters per day.GCC M&A Decline According to Markaz’s report, the GCC market sealed a total of 72 transactions throughout H1 2025, which implies a decline of 22% year over year. United Arab Emirates claimed the lion’s share with 43 closed transactions, followed by Saudi Arabia closing a total of 15 transactions. Apart from Qatar and Oman, all other markets in the region saw a substantial year-over-ye...