Business · Companies · 4 hrs ago
M&A fees in Spain reach highest nine-month total since 2006
Investment banks in Spain earned €566 million in M&A fees in the first nine months of 2026, the highest total for that period since 2006.
The fees rose 63.4% from a year earlier and made up 51% of the sector’s roughly €1.1 billion in total fees.
JPMorgan led the rankings with €63.4 million, while Santander came second with €51 million.
Santander advised on 11 deals, compared with eight for JPMorgan, but JPMorgan’s deals were larger.
The biggest transactions included Santander’s purchase of Webster, the €5.6 billion sale of Urbaser and Lottomatica’s takeover of Cirsa.
M&A fees exceeded the €342 million earned from bond deals, reversing the usual lead held by debt-related business.
The figures show the strength of corporate dealmaking, but no further developments are specified.
Investment banking fees from mergers and acquisitions in Spain reached €566 million in the first nine months of 2026, the highest nine-month total since 2006.
The fees rose 63.4% from the same period a year earlier, according to Dealogic.
JPMorgan ranked first with €63.4 million in M&A fees, followed by Santander with €51 million.
The Webster, Urbaser and Cirsa transactions were the three largest deals cited as driving the total.
M&A generated more fees than bond transactions, which brought in €342 million.
- Who
- Investment banks advising on mergers and acquisitions in Spain, led by JPMorgan and Santander.
- What
- M&A fees reached €566 million in the first nine months of 2026, the highest nine-month total since 2006.
- When
- The first nine months of 2026.
- Where
- Spain.
- Why
- Large corporate transactions, including the Webster, Urbaser and Cirsa deals, drove the increase.
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- M&A fees
- €566 million in the first nine months of 2026
- Year-on-year increase
- 63.4%
- JPMorgan
- €63.4 million in M&A fees; first in the ranking
- Santander
- €51 million in M&A fees; second in the ranking
- Bond fees
- €342 million in the first nine months of 2026
- Largest deal cited
- Webster acquisition for more than €10.7 billion