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In August 2013, the number of mergers and acquisitions in Spain decreased by 35% compared with the previous month, but similar to the same period last year. On the other hand, the investment volume decreased by 53%, generating EUR 1,37bn; but in increased by 70% compared with the same period in 2012.

This month, the industry sector was particularly dynamic. In August, several companies closed important deals, which had been announced at the beginning of the year. Abertis, a highway concessionaire, acquired through its subsidiary Abertis Telecom, a 16,42% stake in satellites operator Hispasat previously held by Instituto Nacional de Técnica Aeroespacial (INTA), which is controlled by the Spanish Government. The deal value was some EUR 173m.

Nevertheless, the largest deal this month involved companies in the technology sector. The Spanish Government acquired a 20,14% stake in Indra, a technology company, held by financial entity Bankia. The deal value was EUR 337m.v

August is usually a fairly inactive month in the Portuguese transactional market. This year, although the summer tendency continued, the M&A market registered a few transactions. The number of deals registered this month was similar to April and June. In addition, interestingly, the investment volume generated was the largest since December 2012; in excess of EUR 3,20bn. Another relevant fact was the number of private equity deals, which was the largest in the last 12 months, mainly due to the dynamic activity of Portuguese private equity firm Oxy Capital. The foreign investment in Portugal was significant, with acquisitions from countries such as Angola, China, United Stated and France. In addition, this month several relevant deals were registered. Highlights include the offers presented by Chinese group Fossum Internacional and by US-based private equity firm JC Flowers to acquire the insurance branch of Caixa Geral de Depósitos. Furthermore, Inapa, a Portugal-based paper manufacturer, acquired paper distributor Korda, with which the company enters one of the most dynamic markets in the paper subsector.

Spain- Deal of the month - August 2013 - Avanza

Advisers:

• Deutsche Bank
• Freshfields Bruckhaus Deringer España
• Baker & McKenzie España
• Deloitte España

Portugal - Deal of the month - August 2013 - Sonaecom

Advisers: 

• Morais Leitão, Galvão Teles, Soares da Silva Advogados