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During October, the number of transactions diminished slightly in Spain. But the tendency and the type of transactions remained the same, with private equity funds quite active as investors. Highlights include various companies searching for buyers and new investors looking to complete new projects, suggesting enthusiasm for M&A deals as the year ends.
The Portuguese transactional market was particularly active in October, one of the most active months in 2011. Various offers were announced for Portuguese electric companies EDP and REN. Other highlights include Australia-based Rio Tinto's announced interest in investing some EUR 1,000m in MTI, a Portugal-based company which explores Minas de Moncorvo. Also worthy of note was the merger between the Spain-based corporate finance consulting companies Artisan and GB Finance with Portuguese Lynx.