Publications
Latin America – October 2014
October 2014
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In October, the Latin American transactional market decreased its activity. A total of 128 deals were registered, both announced and closed, compared with 172 recorded in September. Brazil, Chile and Mexico were the most active countries, with 63, 18 and 15 transactions, respectively. Nonetheless, the two countries in which the M&A activity increased were Chile and Peru.
The investment volume generated this month, remained stable in all Latin American countries, and Chile registered the largest amount. Highlights include Italy-based Enel’s acquisition of electricity companies Enersis Chile and Endesa Latinoamerica, held by Endesa. The deal value was USD 10.46bn. In addition, US-based PPG Industries acquired Mexico-based Comercio Comex, for USD 2.30bn.
Regarding the cross-border sector, Latin American acquirers continue to focus their investments in Europe, for their strategic deals, with four acquisitions registered this month. In addition, European companies were the most acquisitive in the Latin American market, with 25 acquisitions, followed by US-based companies with 21, and Asian with two.
In the private equity sector, there were nine transactions recorded, which generated USD 1.98bn, compared with 19 deals, in September, that generated USD 3.47bn.
The equity capital markets was active, once again, with a few relevant deals closed. Highlights include the first IPO this year, registered in Brazil. Ourofino carried out an initial public offering for USD 148m. In addition, Mexico-based City Express carried out a capital increase, for USD 176m.
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