Mergers and acquisitions in Portugal fell but value moved increased by 5% in 2020

Despite being (again) the most active, the real estate sector showed a 16% reduction in turnover, with 88 purchase and sale transactions. The operation highlighted in the fourth quarter was the conclusion of the acquisition of 81,1% of Brisa's capital by the consortium led by APG Asset Management, for 2,4 billion euros.

Fall in value and rise in value. This is the retrospective of the Portuguese transactional market in 2020, a year in which 379 mergers and acquisitions (M&A) operations were announced, of which 182 had disclosed values ​​that amounted to 18 billion euros.

The data released this Monday by the international directory Transactional Track Record, (TTR) show that there was, thus, a homologous increase of 5% in the amounts handled in these businesses and a decrease of 22% in the number of transactions.

Despite being (again) the most active, the real estate sector showed a 16% reduction in volume, with 88 transactions. To establish itself again in the second place of the table, the technology also suffered a drop - this time of 29% - for 48 operations. The financial sector (banking and insurance) was the third most dynamic, with 28 transactions.

In the fourth quarter of last year alone, there were 104 trades on the TTR radar, which, despite representing a 32% reduction compared to the last three months of 2019, maintain the upward trend observed in the third quarter.

Spain remains the main investor in Portugal, with the neighboring country having been involved in 34 operations until the end of December 2020. The second country that most invested in Portuguese companies in 2020 was France (with 22 transactions) and the third was the United Kingdom (21 transactions).

“In 2020, investment funds private equity were involved in 29 transactions, of which 12 had disclosed values ​​totaling 4,2 billion euros. These figures represent a 41% drop in the number of deals and a modest increase of 3% in the total amount ”, can be read in the report sent to the press.

The business highlighted in the fourth quarter of 2020 was the conclusion of the acquisition of 81,1% of Brisa's capital by the consortium led by APG Asset Management, for 2,4 billion euros.

rankings

Financial advisorsValue
Millennium BCP4.460,70 milhões de euros
Lazard3.392,70 milhões de euros
BI Box2.477,28 milhões de euros

 

Legal advisorsValue
Morais Leitão (ML)6.045,40 milhões de euros
Vieira de Almeida (VdA)4.203,25 million euros
Campos Ferreira, Sá Carneiro2.704,34 milhões de euros

 

Financial advisorsNúmero
Banco Santander5
Millennium BCP, Lazard, Caixa BI and CaixaBank Corporate Finance4
AZ Capital3

 

Legal advisorsNúmero
Garrigues27
Morais Leitão (ML)25
Vieira de Almeida (VdA)23

Source: TTR

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