Portuguese economic recovery remains fragile – PLMJ
Though Portugal may be seeing an increase in deal activity, the recovery is still quite tentative, warns Manuel Santos Vítor, partner at PLMJ in Lisbon.
“The Portuguese economy has been growing but it has been a fragile growth and anything dramatic that happens in the economy could mean that confidence is lost,” he says. “This is a concern because it could be caused by a political or economic issue, and that could be seen as a risk for international investors.”
Despite the delicate situation – which is partly due to the 2015 general election and the uncertainty regarding how it will impact on the market – Santos Vítor expects to see confidence levels maintained in the short-term. “We expect the economy will grow and that will generate a greater flow of work for M&A lawyers,” he adds.
Vítor highlights the renewable energy, real estate and tourism sectors as key areas of activity. He adds: “The M&A sector started to grow in the last quarter of 2013 and private equity has been a major factor in that and our team has been working on many matters.”