Cross-Border M&A in MENA: The Regulatory Approvals That Derail Transactions

The most common cause of delay — and failure — in MENA M&A is not the commercial terms. It is the regulatory approval process. We outline the approvals that matter most, the timelines that should be built into transaction documents, and the government engagement that keeps them moving.

MENA jurisdictions typically require approvals from sector regulators, competition authorities, and in some cases national security or foreign investment review bodies. These are not sequential — they often run in parallel, each with its own documentation requirements and informal expectations around engagement. Timelines of three to six months for straightforward approvals are common; complex transactions or politically sensitive sectors can take significantly longer. The parties most affected are those who treat regulatory approval as a closing condition to be dealt with at the end, rather than a process to be managed from signing. Engagement with relevant ministries should begin as soon as a transaction is announced — and in some cases, earlier.