Deals
Catalan Uncertainty Is Putting Deals In Doubt
- Push for independence set to dent Spain’s economic growth
- Premier threatening to take direct control of rebel region
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Spanish dealmakers enjoying a boom in mergers and acquisitions this year have encountered an unexpected problem: Catalonia’s bid for independence.
The volume of transactions involving Spanish targets surged 83 percent to $62 billion this year, according to data compiled by Bloomberg, with the economy set to expand by at least 3 percent for the third straight year. Since shaking off the worst recession in its recent history, Spain has weathered terrorist attacks, the failure of a major lender and a 10-month impasse with no government last year without breaking stride.