Publications
Iberian Market - October 2013
October 2013
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In October 2013, the number of deals registered in the Spanish M&A market decreased significantly, reaching levels similar to August. After an active month of September, this month there were 40% less deals than in the same period in 2012; in fact, 44 transactions were recorded compared with 72 last year.
On the other hand, the investment volume this month decreased with respect to September, generating EUR 1,83bn, EUR 571m higher than in the same period last year.
The largest deals were carried out directly and indirectly by foreign companies, showing an increasing interest in the Spanish market.
Highlights include the acquisition of two Spanish shopping malls. UK-based real estate company Intu Properties and Canadian pension fund CPP Investment Board acquired Asturias-based shopping mall Parque Principado, for EUR 162m. Furthermore, UK-based real estate fund Orion Capital Managers acquired a 50% stake in Puerto Venecia, which it did not yet hold. The deal value was EUR 144,5m.
The Portuguese transactional market was not particularly dynamic this month. In fact, both May and October were the least active months of the year in terms of registered deals; approximately 7 were recorded, both announced and closed. However, there are recovery signs; the number of deals registered in October was superior to that recorded in the same period last year. On the other hand the investment volume increased, generating in excess of EUR 10,00bn; the largest figure since October 2012. Highlights include the acquisition announcement of PT - Portugal Telecom made by Brazilian telecommunications operator Oi, for EUR 10,74bn. In addition, several relevant deals were recorded this month, such as the announcement of a takeover offer to acquire up to a 24,16% stake in technology company Sonaecom. Furthermore, Italy-based group Datalogic acquired Multiwave Photonics, a Portugal-based developer of technology solutions using high-power lasers. The deal value was EUR 0,57m.
Spain- Deal of the Month - October 2013 - Abengoa
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Portugal - Deal of the Month - October 2013 - Parque Principado
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