Spain – Progress amid uncertainty
Marked by politics and ongoing conflicts in Europe and the Middle East, 2023 was not a year for the faint hearted, but the Spanish market still shone through
5 Apr 2024
Insight
Madrid
Informe 'Global M&A Outlook' 2024
En nuestro último informe global de fusiones y adquisiciones para 2024, titulado "Global M&A Outlook for 2024: Ready for take-off?", se examinan las buenas razones que nos animan a creer que 2024 será un año más sólido para las fusiones y adquisiciones, aunque no se tratará de un cambio repentino ni podemos subestimar los desafíos que presentará en la práctica.
En el capítulo dedicado a España, nuestra asociada sénior, Soledad Bialet, analiza el mercado durante 2023 y las proyecciones para 2024. Dejando atrás los fantasmas de la pandemia, se espera que el sector de fusiones y adquisiciones recupere los ritmos anteriores a la Covid-19, con los fondos de capital privado mostrando un considerable apetito por oportunidades de diversificación e integración, y con muchas empresas buscando financiación e inversión para sustentar este crecimiento. En 2023, pese a un comienzo de año prometedor, el clima político en España y las altas tasas de interés, entre otros factores, retrasaron varias operaciones a los últimos meses del año, con una marcada caída o pausa de las mismas durante mediados de año. Así, en general, las operaciones de fusiones y adquisiciones disminuyeron en número y volumen en comparación con el año anterior. Sin embargo, el mercado se mantuvo fuerte, con muchos acuerdos y operaciones en curso que parecen prometedores para este 2024.
¿Listos para despegar?
Global M&A Outlook for 2024: Ready for take-off?
In our global M&A report for 2024, titled "Global M&A Outlook for 2024: Ready for take-off?", we explored that there are good reasons to believe 2024 will be a stronger year for M&A; but no-one is going to call a sudden change in conditions, or underestimate execution challenges.
In the chapter for Spain, senior associate Soledad Bialet analyses the market in 2023 and projections for 2024. Now that we are happily leaving the aftermath of the pandemic behind, expectations are for the M&A sector to rebound to pre-Covid levels, with private equity funds showing considerable appetite for both diversification and integration opportunities and with plenty of companies keen to seek financing and investment to fund growth. In 2023, despite a promising start to the year, the political climate in Spain and high interest rates, among other factors, pushed several transactions back to the last months of the year, leading to a significant drop or pause in deals during mid-2023. Overall, M&A deals fell in number and volume compared to the preceding year. However, the market remained strong with plenty of ongoing deals and transactions that show promise for 2024.
Ready for take-off?
Legal Notice
The contents of this publication are for reference purposes only and may not be current as at the date of accessing this publication. They do not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking any action based on this publication.
© Herbert Smith Freehills 2024
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