The Ukrainian mergers and acquisitions (M&A) market continues to show dynamic development despite the military and geopolitical challenges. In the first nine months of 2025, 45 deals were made in Ukraine, totaling $806 million. Compared to the same period in 2024, this represents a 22% increase in the number of deals and an 8% increase in their value. It is worth noting that only 53% of the deals included disclosures about their value, so the actual market volume may be even larger.
This is reported by Business • Media
Key Deals and Their Impact on the Market
The majority of the market value was provided by two large transactions, which together accounted for 56% of the total amount. In particular, the agricultural holding MHP acquired 92% of the shares of the Spanish meat producer Uvesa for €270 million, while the company “Kyivstar” purchased the car-hailing and delivery service Uklon for $155 million. Both of these deals were signed in the first half of 2025.
This year, Ukraine recorded 45 deals with a total disclosed amount of $806 million, representing a 22% increase in deal volumes and an 8% increase in value compared to the same period in 2024.
In the third quarter of 2025, no deals were recorded with a value exceeding $100 million, indicating a decrease in large-scale transactions during this period.
Leading Sectors and the Role of Local Investors
The average deal size in 2025 remained unchanged compared to last year at $34 million. Local investors traditionally remain the driving force of the M&A market in Ukraine — they participated in 73% of all deals, with a total value of $442 million.
Among the most active sectors in the mergers and acquisitions market this year were IT, real estate and construction, as well as agribusiness, confirming the sustained interest of investors in these industries.