Mergers and acquisitions slow, value down 45 percent on year

in Business · 09-08-2018 11:42:00 · 0 Comments

Portugal’s mergers and acquisitions market saw 15 transactions in July, worth a combined €952 million, 45 percent less than in the same month of last year, according to the quarterly Transactional Track Record.

In the first seven months of the year, 173 M&A deals were recorded in the country, down 16.8 percent on a year earlier, the report noted.
Of the total number of transactions in the period, 71 were valued above €14.9 billion, or 77.7 percent more than in the same period the previous year. The figures were strongly influenced by the €9.1 billion bid launched by China Three Gorges in May to buy the shares in Energias de Portugal (EDP) that it does not already own.

The real estate sector was the busiest in July, with seven transactions, bringing the total for the seven months to 43, down 4 percent on the same period of last year.
The report also highlights growth in the number of deals in the technology (29 percent), finance and insurance (25 percent) and tourism, hospitality and restaurant (20 percent) industries.
Portugal saw 68 inbound transactions and 10 outbound transactions in the first seven months of the year. Among the former in July, the report highlights the acquisition of Almada Forum shopping centre by Spain’s Merlin Properties from New York-based private equity firm Blackstone Group LP for €406.7 million. TPN/Lusa


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