In January 2025, the Portuguese transactional market recorded 40 deals with a total value of €385 million, according to the latest report from TTR Data. This represents a 62.16% decline compared to the same period last year. The report also presents advisory rankings in M&A, private equity, venture capital, and capital markets for January 2025, measuring advisors’ activity by total deal value and the number of transactions.

Among these, M&A accounted for the majority of transactions, with 23 deals totaling €308 million. By sector, real estate was the most active in 2025 so far, with seven transactions, followed by travel, hospitality, and leisure, with five deals—marking a 67% increase compared to 2024. Of all transactions, 28% disclosed their deal values.

Deals of the month

The highest-valued transaction in 2025 to date was the acquisition of Claranet Portugal by NOS, advised by Morais Leitão, for €152 million. The advisory team included partners Jorge Simões Cortez, Gonçalo Fleming, and Catarina Brito Ferreira, among others.

However, TTR Data selected a different transaction as the “Deal of the month”: the acquisition of 51% of Bolseira—a company specializing in the manufacture and sale of kraft paper bags and reel paper—by Core Capital. This €9.5 million deal was advised by SRS Legal on behalf of Bolseira and CS’Associados representing Core Capital. The SRS Legal team was led by partner Nuno Miguel Prata, with associates Miguel Pereira Bonifácio and Joana Ferreira Gonçalves. On the CS’Associados side, the deal was led by partner Bernardo Abreu Mota, supported by associate Francisco Soares de Sousa.

 

Source: Iberian Lawyer - Spain