Spanish transactional market records circa 1,200 operations until August 2020

The Spanish transaction market has recorded a total of 1,196 transactions up to August with an aggregate amount of €54,734 million, according to TTR’s monthly report

These figures represent a decrease of 27.78 per cent in the number of transactions compared to the same period in 2019, as well as an increase of 2.3 per cent in the capital mobilised, compared to August 2019.
In August, 70 mergers and acquisitions were announced and closed for an aggregate amount of €1,373.24 million. In terms of sectors, the Real Estate sector was the most active in the year, with a total of 270 transactions, followed by Technology, with 211.

Cross-Border Scope

As regards the cross-border market, until August 2020 Spanish companies have chosen Portugal and the United States as their primary investment destinations, with 22 and 13 operations respectively. In terms of amount, the United Kingdom is the most prominent country, with an approximate value of € 23,202.06 million.

On the other hand, the United States and the United Kingdom, with 77 and 69 operations, respectively, are the countries which have made the greatest number of investments in Spain. The United States stands out with an amount of €5,432.90 million.

Private Equity, Venture Capital and Asset Acquisitions

So far this year, a total of 91 Private Equity operations have been recorded for €6,468 million, representing a 48 per cent decrease in the number of operations and a 71.80 per cent decrease in the amount of these operations compared to the same period last year.

On the other hand, 265 transactions were carried out in the Venture Capital market for an aggregate amount of €3,583 million, which implies a reduction of 15.34 per cent in the number of operations and an increase of 155.57 per cent in the amount of the same, in interannual terms.

In the Asset Acquisitions segment, 363 transactions were recorded up to August for a value of €10,287 million, representing a decrease of 29.51 per cent in the number of transactions and a decrease of 14.57 per cent in the number of transactions, in year-on-year terms.

Transaction of the month

In August 2020, TTR has selected as a major transaction the entry into the shareholding of the Spanish Instituto Superior para el Desarrollo de Internet (ISDI) by the Private Equity fund of Magnum Capital.
The transaction, which has registered an amount of €35 million, has been advised on the legal side by Uría Menéndez España and by Herbert Smith Freehills Spain. On the financial side, the transaction was advised by Arcano Partners and EY España.

Ranking of Financial and Legal advisors

The report publishes the August 2020 rankings for Financial and Legal advice in M&A, Private Equity, Venture Capital and Capital Markets, which report on the activity of the leading firms by number of transactions and by amount.

In the TTR ranking of Financial advisors, Arcano Partners and AZ Capital lead by number of transactions during 2020, with seven transactions each. Lion Tree, Citigroup and J.P. Morgan Chase International Holdings lead by amount, with €22,600 million in each case.

In terms of the ranking of Legal advisors, the firm Garrigues España and Cuatrecasas España lead, by number of transactions in 2020, with 54 transactions each and, by amount, the firm Clifford Chance leads with €30,820.76 million.



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