Middle East’s best bank for advisory 2023: Citi
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AwardsAwards for Excellence

Middle East’s best bank for advisory 2023: Citi

Citi is the standout winner of the award for the region’s best bank for advisory in 2023. In a strong year for M&A, it was way ahead of the pack. It advised on 18 completed deals collectively worth $32.1 billion, giving it a 26.5% share of the market, according to data from Dealogic.

And during the awards period, the 12 months to the end of March 2023, it also led in terms of announced deals – transactions declared but pending approval from shareholders and regulators. Citi advised on 18 announced deals worth $24.4 billion over the period, well ahead of its rivals and more than the third- and fourth-placed banks combined.

The year was full of standout deals. Citi advised Abu Dhabi National Oil Company (Adnoc) on its acquisition of a 24.9% stake in Austrian energy-and-chemicals group OMV from the Emirati sovereign wealth fund, Mubadala Investment Company. The deal simultaneously boosted Adnoc’s stake in two petrochemicals firms, Austria’s Borealis and Abu Dhabi-listed Borouge.

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