In the short term, the Brexit decision will have a negative impact on M&A in the rest of 2016 derived from the uncertainty regarding the collaboration model with the EU, bilateral negotiations of the countless trade agreements in force and the deadlines for the implementation of Brexit. Another immediate consequence will be a lengthening of the execution deadlines in M&A operations or even cancellation of ongoing processes. [/ Fusion_text] In the medium term, it is expected that Brexit would cause assets located in the US to have a greater demand by part of investors. The turmoil in the market would cause IPOs to be reduced as well. [/ Fusion_text] However, there are possibilities for generating crossborder M&A opportunities in this context, where UK or EU companies wish to divest strategically their respective investees derived from uncertainty, preference for other markets, model change, applicable legal or tax legislation, etc.