TTR In The Press

O Jornal Económico

October 2020

Mergers and acquisitions in Portugal handled more than 20,4 billion until September

United States reduced purchases in Portugal by 62%. Venture capital funds moved 271 million euros until September, points out the latest report by TTR.

The volume of mergers and acquisitions of companies in Portugal increased again in the third quarter of this year, with 82 M&A operations (in the Anglo-Saxon acronym) having been announced and concluded for a total amount of 13,5 billion euros, according to data from the most recent Transactional Track Record (TTR) report.

Thus, between July and September, there was a reversal in the downward trend in business volume seen in the first two quarters of the year, due to the restrictions implemented to contain the pandemic.

In cumulative terms, the Portuguese transactional market accounted, by the end of September this year, 248 deals, of which 113 had a disclosed value that adds up to 20,4 billion euros. In other words, there was an annual increase of 89,80% in the amount handled and a decrease of 26% in the number of transactions.

“By the end of the third quarter, the United States had reduced its acquisitions in Portugal by 62%. Likewise, foreign private equity and venture capital funds also reduced their investments by 39%. Spanish companies remain the main investors in Portugal, having been involved in 27 operations until the end of September. France is the second country that most invested in Portugal during the year, followed by the United Kingdom, with 12 investments ”, says the report.

For this international directory, the transaction for the quarter was the acquisition of Lagoas Park, in Lisbon, by the British investment fund. private equity Henderson Park for 421 million euros. The real estate operation - which, until now, continues to be the most active sector of the year, with 64 transactions - had the legal assistance of the law firms Garrigues Portugal and Uría Menéndez - Proença de Carvalho.

Source: O Jornal Económico - Portugal 

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