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‘Houlihan Lokey Expects a Strong 2026 for M&A in Spain’

Juan Luis Muñoz and Carlos Paramés, Managing Directors at Houlihan Lokey, told Expansión that they expect 2026 to be a strong year for M&A in Spain, underpinned by attractive valuations and a high-quality talent base, despite ongoing geopolitical uncertainty. They added that while global deal activity is likely to remain uneven, technology and business services continue to drive middle-market M&A, positioning Spain and Portugal as two of Europe’s most compelling investment destinations.

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