Iberian Market

Iberian Market - January 2013

January 2013

Pages: 16

Format: .PDF

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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 value was EUR 1.745,39m.

By segments, the smaller market was the most active registering some 14 deals, followed by high-end market that registered 4 deals, and mid-market with only 3. This tendency was also reflected throughout the year 2012, caused by economic instability. Several small companies were forced to reorganize their businesses and large multinationals were refrained from pursuing important investments.

PORTUGAL

In January, the Portuguese transactional market contradicted the blackest expectations that crisis announced, with some 14 deals registered, approximately the same volume recorded in December 2012. In spite of this similar transactional activity, the investment volume decreased considerably. The market generated EUR 609m compared to EUR 9.324m of December, which was the result of several concluded deals at the end of 2012. Highlights include the sale conclusion of HPP – Hospitais Privados de Portugal. This privatization was won by Brazilian group Amil Assistência Média Internacional, with an offer valued at EUR 85,60m.

By segments, January brought some surprises, revealing a mid-market (deals between EUR 15m and EUR 250m) particularly dynamic absorbing most deals, followed by the high-end market.

Spain - Deal of the month - January 2013 - Kredyt Bank

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