Despite the war, the M&A market in 2023 reached $1.4B and significantly exceeded the previous year’s figure.

The volume of M&A deals in Ukraine at the end of 2023 amounted to $1.2B, reported InVenture. Considering these deals’ low publicity and transparency, this figure could be slightly higher and amount to about $1.4B.

Compared to 2022, the total volume of M&A deals increased last year by 250%, but was still about 50% less than 2021’s pre-war figure of $2.7B.

The number of M&A deals also increased in 2023, up to 87 transactions against 54 in 2022 (120 deals in 2021). The largest number of deals last year took place in the IT, commercial real estate, industrial logistics real estate, and agricultural sectors.

Many investors announced preparations for implementing greenfield projects in Ukraine without waiting for the war to end. Most of the newly initiated projects are connected with companies with foreign capital.