Publications
Iberian Market - October 2014
October 2014
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In October, the Spanish transactional market was particularly dynamic, and it was the most active month so far, both in number of deals and investment volume generated. A total of 110 transactions were registered, both announced and closed, and an investment volume of EUR 14,87bn; equivalent to a 5,77% and a 92,77% increase, respectively, compared September.
The number of deals and investment volume generated, so far this year, also increased compared with the twelve-month period of 2013. Until October 2014, 971 deals were recorded and the investment volume was EUR 72,86bn, compared with 962 deals that generated EUR 51,57bn, from January to December 2013.
The most active sectors, this month, were once again the technology and the Internet, with 20 and 15 deals registered, respectively. Highlights, in the Internet sector, include the acquisition of Trovit made by Japan-based Next & Co., for EUR 80m. In addition, the real estate sector was also dynamic, with a total of 10 deals recorded.
In the cross-border sector, Spanish companies focused their investments in Brazil and Italy, with three acquisitions in each country; but it was in Chile and Brazil where the investments were larger, exceeding EUR 2,60bn in each country. On the other hand, US-based acquirers made nine acquisitions in Spain, whereas French and UK-based companies made 6 each. Furthermore, companies based in Singapore and The Netherlands acquired Spanish companies through investments that exceeded EUR 200m.
Regarding the private equity sector, there were 18 deals registered, compared with 16 in September, although the investment volume decreased from EUR 1,29bn to EUR 888,7m. The real estate and the transport, aviation and logistics sectors were the most active in this segment. In addition, the number of deals registered until October is superior to those recorded throughout 2013.
On the other hand, the venture capital segment registered 22 deals, similar to September. While the investment volume increased by 1,41% compared to the previous month. However, the number of deals registered in October is superior to those recorded in the same period last year, and the investment volume is almost double.
In the capital markets, there were two capital increases carried out by Dogi and Europac, for an amount inferior to EUR 10m. Furthermore, technology firm Atento began trading on the New York Stock Exchange, through an IPO that exceeded EUR 118m.
In October, the Portuguese transactional market registered 19 deals and an investment volume of EUR 676,4m, the second largest amount generated so far this year in one month. Furthermore, the number of deals increased by 11,76% and the investment volume increased by 2.540,12%, compared with the same period last year.
Analyzing these ten previous months of 2014, the number of deals recorded is superior to those registered throughout 2013, although the investment volume is significantly inferior to last year’s. In this regard, the Portuguese market is showing greater vitality, although the investment volume is smaller and there are more deals with undisclosed values.
The most active sectors, this month, were the sports and leisure and the financial and insurance. The technology and the healthcare, hygiene, medical aesthetics and cosmetics sectors, were also active with two deals each. Highlights include a takeover bid launched by Fidelidade to acquire Espírito Santo Saúde, for approximately EUR 459,83m.
In the cross-border sector, Portuguese companies focused their investments in Angola as well as Brazil, which is where the largest investments occurred. Regarding foreign investments in Portugal, German and Spanish companies were the most active both in the number of acquisitions registered and the volume of investments.
Regarding the private equity sector, a total of three deals were registered generating EUR 459,83m, compared with two deals for an undisclosed amount in September. Furthermore, there were no deals recorded in this sector in October 2013.
Two transactions recorded in the venture capital segment, this month, although the deal value was not disclosed. In September 2014, there was only one deal registered.
In the capital markets there were no IPOs or capital increases registered in the Portuguese market.
Acciona Energía Internacional - Company engaged in renewable energy production.
Financial Advisors
Legal Advisors
Espírito Santo Saúde - Healthcare services company.
Financial Advisors
Legal Advisors
