M&A activity in Angola and Mozambique is generating significant activity for Portuguese law firms, says Raposo Bernardo partner Joana Andrade Correia.
Angola continues to attract foreign investment, which is increasingly taking the form of acquisitions of existing companies, says Andrade Correia. These are often successful businesses in need of some reorganisation and an injection of finance – they are proving attractive to investors wishing to enter the market without all the difficulties associated with starting from scratch.
In addition to such mandates, clients continue to demand assistance with the incorporation of new companies. With regard to Mozambique in particular, there has been a significant amount of transactional activity, according to Andrade Correia. “Although the country [Mozambique] has experienced moments of less stability, it continues to generate opportunities in company incorporation and M&A.”
Meanwhile, Portuguese clients are also seeking advice on export trading matters as well as company incorporation in Latin America. Insurance, transport, logistics, retail and finance expertise is particularly in demand in Mexico, Chile, Brazil and Colombia. In addition, China and India, in turn, offer exciting opportunities for the future, according to Andrade Correia. “China’s rise could be turbocharged by its vast pool of savings,” she says. “Today this is largely invested in government bonds, but in future it could be used to buy companies and protect China against devaluations and possible defaults.”
Having a local presence and a long-term outlook is key to success, believes Andrade Correia: “Raposo Bernardo has experienced a substantial increase in international work thanks to our strategy of local investment.”