In this Interim report, A&M Spain analyzes the Spanish energy sector's end-of-2023 performance from an M&A perspective.
While 2023 has proven to be a tougher year than anticipated, the activity observed in the last quarter, coupled with the announcements in Q1 of 2024, portend an increase in M&A activity and a hopeful outlook for 2024.
As anticipated, renewable sources dominate as the most transacted technology, comprising 92% of total energy transactions in FY2023. Although the majority of closed transactions involved specific asset acquisitions or majority interests granting control, there have been recent transactions involving the sale of minority stakes by major industry players to secure financing for their strategic growth plans.
In summary, at A&M, we maintain an optimistic outlook for transactional activity in the sector for 2024 despite the challenges the industry must address in terms of regulation and energy management to mitigate the impact of low energy prices.
Originally published 04 April 2024
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