TTR: M&A market in Spain registers more than 1,500 deals for c. €70.4bn in 2021 first seven months

According to TTR’s report, the M&A market in Spain has accounted, in the first seven months of 2021, a total of 1,548 transactions and a mobilised capital of approximately €70.4 billion

The report also presents a complete and correlational analysis of the most significant cross-border transactions, as well as the most active sectors in the market, where the Real Estate sector stands out with 313 transactions.

The deal of the month in July, was, according to TTR, the closing of the acquisition by Cellnex of Polkomtel Infrastruktura for €1.6 billion. Iberian Lawyer informed about it when the negotiations were already started in March. The agreement involves an investment of circa €1.6 billion by Cellnex, plus an additional programme to roll out up to circa 1,500 sites and investments in active equipment, mostly for 5G, for a further circa €600 million over the next nine years. The transaction has been financed with available cash.

This deal involved a Clifford Chance’s team of lawyers in London and Warsaw led by Joel Ziff (partner, Corporate/M&A, London) and Agnieszka Janicka (managing partner, Warsaw), also with the participation of Spain. The Clifford Chance´s team advising on this deal from Spain´s Barcelona office was formed by Corporate/M&A partner Guillermo Guardia and senior lawyer Jose María Vilaseca.