Appetite for renewables assets propels early-year Iberian activity
Post Covid-19 prospects in Iberia are brightening fast.
Spain’s central bank raised its 2021 growth forecast to 6.2% and the OECD is projecting a 3.7% in Portugal’s GDP for 2021 up to 4.9% in 2022.
Reassured Iberian dealmakers announced a record 320 deals (76 more than in the same period last year) worth €31.3bn – up 54.6% in value compared to H1 2020.
Spain continues to take the lion’s share – 287 deals valued at €29.2bn – the highest half-yearly deal value in three years, with the biggest being IFM Investors’ €5.1bn acquisition of a 22.7% stake in Madrid-listed Naturgy Energy Group.
International buyers are showing significant interest, with a 35% rise in the number of deals compared with the first half of 2020, already the equivalent of 77% of 2020’s annual total value (€30.8bn). And bidders from outside Europe accounted for five of the biggest deals.
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“Iberia M&A trends report H1 2021”
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