The Portuguese transactional market decelerated in number and increased in value between the months of January and March. In the first quarter of 2020, 79 businesses were registered in which Portuguese companies were involved, down 18,6% year-on-year, according to data from the international directory Transactional Track Record (TTR).

The M&E report (Mergers and Acquisitions) accounted, however, for a higher amount than in the first quarter of last year: 3,2 billion euros, which represents an increase of 36%. Real estate and technology remained the two sectors of activity with the most dynamic volume of operations, with 28 and 13 deals being mapped, respectively.

Spain was the preferred destination for national companies to go shopping abroad. "Likewise, Portugal is the main destination where Spanish companies invest, totaling seven transactions and 800 million euros handled in this quarter", according to the same source of information.

Like what has been happening, there was a business that stood out in those three months. In this case, it was the conclusion of the acquisition of 100% of OMTEL, owner of telecommunications towers, by Cellnex Telecom for 800 million euros. Among the legal advisers were Vieira de Almeida (VdA), SRS Advogados, Gómez-Acebo & Pombo and Uría Menéndez - Proença de Carvalho.

The TTR also concludes that both transactions involving private equity funds and venture capital funds (venture capital) fell in volume. In the first, 62% (for five operations) and in the second 48% (for eleven operations). “In addition, private equity e venture capital foreigners reduced their investments in Portuguese companies by 63%, totaling just three transactions in this quarter ”, the document reads.

Source: O Jornal Económico - Portugal