Portugal: Trend Report

27 November 2020

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At the beginning of 2020, the signs for M&A in Portugal were positive – there was a strong pipeline of deals from both strategic and private equity players and expectations were high. Then the pandemic hit. The outbreak reduced activity as deals were delayed or cancelled since sellers considered that they would be harmed by the market conditions. Meanwhile, buyers had to factor in uncertainty and expensive financing in the purchase price and deal terms.
 
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