December 30, 2019 / 11:42 AM / 2 months ago

Israeli M&A value slips 6% in 2019 to $20.4 bln -report

TEL AVIV, Dec 30 (Reuters) - The value of mergers and acquisitions in Israel in 2019 fell 6% to $20.4 billion though the number of deals rose 34% to 166, according to a report released by Pricewaterhouse Coopers on Monday.

The value of deals in 2018 was boosted by the acquisition of Frutarom by International Flavors & Fragrances for $7.1 billion.

PwC Israel said the value of "mega deals" in 2019 was more modest, highlighting the Orbotech acquisition by KLA-Tencor Corp for $3.4 billion and of Chevron North Sea by Delek Group for $2 billion as prominent deals this year.

High tech led with $9.1 billion in deal value.

"The Israeli M&A market is not showing any signs of slowing down," PwC Israel partner Liat Enzel-Aviel said.

She noted that Nvidia's acquisition of Mellanox , Intel's purchase of Habana Labs and Baring Private Equity Asia's acquisition of Lumenis -- with a combined value of about $10 billion -- are all expected to close in early 2020. (Reporting by Tova Cohen Editing by Steven Scheer)

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