Asset Acquisition Up 35% in the First Semester of 2021

Venture Capital transactions increased by 57%, while Asset Acquisition rose by 35%.

According to the TTR (Transactional Track Record) report, during the first six months of 2021, 192 transactions were completed for a total of €3.957 billion. The report provides updated data on the Portuguese M&A market, where Spanish buyers led inward investment. Spain was also the preferred target for acquisitions led by Portugal-based companies.

There were 91 mergers and acquisitions in the second quarter, between announced and finalised, totalling €1.3 billion.

Of the four areas, M&A stood out with 83 transactions (€1.892 billion), followed by Asset Acquisition with 53 transactions (€937m), Venture Capital with 44 transactions (€922m), and Private Equity with 12 transactions (€206m).

The leading firms were Uría Menéndez-Proença de Carvalho (697.99 million euros), followed by Vieira de Almeida (487 million euros) and PLMJ (272 million euros). Also above the €100-million mark were Garrigues Portugal (175.84 million euros) and SRS Advogados (108.91 million euros).

By sector, Technology was the most active at 33 transactions, followed by the Real Estate sector (30 transactions). The trend repeated that of May.

The Transactional Track Record selected Spanish Chocolates Valor’s acquisition of Imperial Chocolates as its transaction of the month. Telles Advogados and Cuatrecasas acted as advisers.