MALTA Law and Practice Contributed by: George Bugeja, Stuart Firman, Nicholas Curmi and Luke Hili, Ganado Advocates
Ganado Advocates 171, Old Bakery Street Valletta VLT 1455 Malta Tel: +356 2123 5406 Fax: +356 2123 5406 Email: lawfirm@ganado.com Web: www.ganado.com
1. Trends 1.1 M&A Market
targeting Malta-based operators for scale, technol- ogy and regulatory advantages. Gaming, iGaming and esports saw notable consolidation, driven by inter- national buyers seeking operational licences, digi- tal infrastructure and established platforms. Strong activity also continued in aviation, pharmaceuticals, healthcare, digital services and retail. Overall, Malta experienced a more dynamic, diversified and investor- driven M&A environment compared with a year ago. 1.3 Key Industries Various industry reports indicate that the key industries involved in M&A activity in the past 12 months include Gaming, iGaming and esports, each of which expe- rienced notable consolidation as international opera- tors acquired Malta-licensed businesses to enhance technology, regulatory access and scale. Aviation also remained active, highlighted by strategic acquisitions and continued investment in maintenance and opera- tions. Financial services and fintech attracted buyer interest, particularly in payment and regulated invest- ment services. Pharmaceuticals, healthcare, retail and digital services also saw increased activity driven by strategic expansion and operational efficiencies. It should also be specifically noted that the Maltese banking sector saw two major transformative deals over 2024 and 2025, while the acquisition of a major telecommunications provider was also completed in 2025.
Malta’s M&A market has strengthened compared with 12 months ago, with noticeable growth in both deal activity and transaction values. 2024 and 2025 ushered in a wave of M&A deals across various sectors, revers- ing the slump seen in 2022–2023. Although only a rela- tively small number of deals were publicly announced, practitioners report significantly higher under-the-radar mid-market activity. Deal values are rising, with the market projected to continue to grow in 2026. Private equity interest has increased, particularly in buyouts, while international strategic investors remain active in inbound acquisitions. It should be noted that as well as international transactions, purely domestic transactions continue to gain traction. Family-owned businesses are increasingly viewing M&A as a strate- gic tool for succession and growth. Financing condi- tions have become more favourable, with stabilising interest rates and active support from local banks which has funded acquisitions and refinanced M&A loans, and with capital markets continuing to be a financing option too. Overall, Malta’s M&A environment is now more dynamic, with increased risk appetite and improved access to funding for strategic deals. 1.2 Key Trends Over the past 12 months, Malta’s M&A market has become more active and sophisticated, with rising mid-market deal flow (particularly local) and increasing transaction values. Private equity interest has accel- erated, particularly in buyouts, bolt-ons and portfolio expansion. Strategic investors remain highly engaged,
2. Overview of Regulatory Field 2.1 Acquiring a Company
The main legal methods for acquiring a company in Malta are through direct share purchases, asset pur- chases and, less commonly, mergers.
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