Deals
HSBC Sees Oil and Virus Turmoil Boosting Middle East Deals
- Current crisis may also accelerate asset sales, consolidation
- Wealth funds looking to take advantage of lower valuations
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A historic crash in oil prices and fallout from the coronavirus pandemic will accelerate asset sales in the Middle East and open up a gap for sovereign wealth funds to make “opportunistic investments,” according to HSBC Holdings Plc.
“Corporates and sovereign entities will need to look at their portfolios more closely during challenging times and see what is core to them,” Nabil Lahham, head of advisory and corporate finance coverage for HSBC in the Middle East, North Africa and Turkey, said in an interview. “Some of them are also looking at gaps in their portfolio and seeking to do deals to fill those holes.”