Publications

Iberian Market - April 2013

The Spanish transactional market has been slightly more active in April than in previous months, both in number of deals as well as volume invested. Furthermore, we registered one private equity investment in the high-end market. This is significant, taking into account that in 2012 only two deals were registered throughout the whole year, in this segment. UK-based Triton Partners acquired Befesa Medio Ambiente, for EUR 1.075m, with which the private equity fund enters the Spanish market. Spain-based Abengoa carried out this divestment as part of its strategy to reduce debt and focus on its core business...

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Iberian Market - First Quarter 2013

SPAIN
The Spanish M&A transactional market registered less deals this first quarter of 2013, compared to the same period last year. 130 deals were registered, which corresponds to approximately a 15% decrease in number of deals. The deal volume was higher, due to some relevant cross-border deals. Banco Santander and KBC Bank merged their subsidiaries in Poland, Bank Zachodni WBK and Kredyt Bank. The deal value was EUR 3,000m.
Five out of the ten largest deals closed between January and March 2013, were cross-border. Highlights include a few divestments by Spanish companies in Latin America. BBVA Bancomer, the...

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Iberian Market - February 2013

SPAIN
In February, the Spanish transactional market decreased its activity, both in number of deals and investment volume. Nevertheless, some relevant transactions were announced, mostly cross-border. Ferrovial Servicios (Ferroser), a subsidiary of Spanish multinational Ferrovial, reached an agreement to acquire UK-based company Enterprise, held by venture capital fund 3i Group. The deal value was EUR 445.5m. On the other hand, several Spanish companies are divesting non-strategic assets in order to improve their cash flow. Iberdrola sold, through Iberdrola Renovables Energía, a 75% stake in Polish company...

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Iberian Market - January 2013

SPAIN
The Spanish transactional market was less active in January than previous month; registering 52 deals as opposed to 81 in December. Nonetheless, due to closure of several important transactions, the investment volume was EUR 9.014m, whereas December generated EUR 6.699m. Highlights include the merger carried out by Banco Santander and KBC Bank of their subsidiaries in Poland – Bank Zachodni WBK and Kredyt Bank – for EUR 3.000m. This month’s largest deals were carried out by several of BBVA’s divestors, such as the sale of AFP Provida to Metlife, a USA-based company. The deal...

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