Corporate M&A 2024

1. Trends

1.1 M&A Market

Indonesia's M&A landscape has shown itself to be resilient and dynamic, especially in the aftermath of the COVID-19 pandemic. After a notable decline in 2020, the M&A market rebounded strongly in 2021 with 103 transactions, representing a 186% surge compared to the previous year, albeit with a total transaction value of USD44 million. This upward trajectory continued in the first quarter of 2023 with 26 deals, an 18% increase in volume from the preceding quarter, with a transaction value of USD2.2 billion. Despite a 57% drop in value compared to the prior period, this level of activity still surpasses pre-pandemic figures and aligns with the market's performance in the third quarter of 2022.