Mercado Ibérico - Primeiro Trimestre 2014

Março 2014
Mercado Ibérico - Primeiro Trimestre 2014
Pages: 51
Format: .PDF

(content in english)


SPAIN

In the first quarter of 2014, the Spanish M&A market was particularly active. A total of 241 deals were registered, both announced and closed. On the other hand, the investment volume generated was some EUR 19,45bn, the largest compared with the last four quarters. In fact, the investment volume this quarter increased by 24,13% compared with the same period last year. This is the result of some relevant deals registered in the high-end market in deal size (>EUR 500m). Highlights include the acquisition agreement by Spain-based Ono of UK-based Vodafone. The deal value was approximately EUR 7,20bn.

The technology and Internet sectors were the most active this quarter, with 26 and 39 deals registered, respectively. Highlights include Gigas' EUR 2,00m financial round, subscribed by Bonsai Venture Capital, Cabiedes & Partners and Caixa Capital Risc.

In the cross-border sector, the Unites States and France-based acquirers carried out most of the investments in Spain this quarter. On the other hand, Spanish companies chose the United States as their main focus, and invested EUR 242m in the M&A market.

The private equity sector recorded a significant increase in investments, with EUR 10,01bn compared with EUR 4,36bn in the last quarter of 2013. Highlights include ONO's divestment and other important transactions. Apollo Capital Management invested EUR 664m in Altamira Santander Real Estate. The venture capital investments also increased by 6% compared with the previous quarter, with 49 deals recorded.

Finally, the Spanish capital markets increased its activity in March 2014, with two IPOs registered on the continuous market, carried out by Hispania Activos Inmobiliarios and Lar España, two real estate companies.

PORTUGAL

In the first quarter of 2014, the number of mergers and acquisitions registered in the Portuguese transactional market was similar to the same period last year. On the other hand, the investment volume was atypical this quarter, generating EUR 1,78bn which represents a 50% decrease compared with the same period last year.

The technology sector was one of the most active this quarter. The number of deals registered was almost similar to the same period in 2013. Highlights include some of the most relevant deals in Portugal this quarter. Portugal Ventures made several investments in Portuguese technology startups. Sensys Solutions, a Portugal-based technology firm merged with Mozambique-based Power - Sistemas de Energia. Furthermore, Claranet Portugal, a Portugal-based software developer, acquired Echiron.

This quarter was marked by the presence of foreign investors, which were not this active in Portugal such as China, Japan, Luxembourg, South Africa and the United States. Highlights include the acquisition of a 80% stake in Caixa Seguros by China-based Fosun. Furthermore, Japan-based Marubeni Corporation and INCJ acquired Portugal-based AGS.

On the other hand, venture capital firms were particularly dynamic in Portugal this quarter, with a significant number of deals registered. Highlights include Portugal Ventures' investments. The firm carried out seven transactions.

In the first quarter of 2014, the capital markets were especially active. Highlights include Espírito Santo Saúde's initial public offering, which was concluded in February and generated EUR 166,20m.


Sponsored by:


 



Altamira Santander Real Estate - Company dedicated to buying and selling properties.


Financial Advisers

Legal Advisers




Espírito Santo Saúde - Company dedicated to health care services.

Financial Advisers

Legal Advisers

 

- RANKING 1st quarter 2014 -
SPAIN
Mergers and Acquisitions - Spain
Financial Advisors
By No. of transactions
Ranking 1Q 2014 FINANCIAL ADVISOR No. of Transactions
 
1 BBVA 3
 
2 BNP Paribas Corporate & Investment Banking 2
 
3 GBS Finanzas 2
 
4 J.P. Morgan 1
 
4 Morgan Stanley España 1
 
5 MergerTech 1
 
6 AFI 1
 
6 BDO 1
 
6 N+1 1
 
7 Goldman Sachs Investment Banking 1
 
By total value of transactions
Ranking 1Q 2014 FINANCIAL ADVISOR Total Value (EURm)
 
1 J.P. Morgan 7.200,00
 
1

 

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