Pascal Vieilledent, CEO of Anquor Corporate Finance; Marcus Saxby, Citi Investment Banker; Sharon Izaguirre, Partner Responsible for Corporate-M&A at Deloitte Legal and José Antonio Sánchez-Dafos, Corporate Partner at Latham&Watkins.

Investor appetite, existing liquidity and, in general, the attractive valuations of recent years, have drawn the best scenario for corporates to undertake large divestment processes. Naturgy, Iberdrola, Telefónica, Sacyr, Ferrovial, ACS, Santander or Sabadell are just a few examples, but the truth is that the list of Spanish industrialists who have focused their efforts on rotating portfolios or preparing to launch new sales processes is endless. The need for liquidity derived from Covid-19 will drive companies to cash in with the sale of new non-strategic businesses.

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