October M&A activity in Mexico picked up in terms of deal valuation, with 19 of the month's 24 transactions disclosing values totaling US$2.05bn, up 22.4% from the disclosed sum in October 2016, according to research firm Transactional Track Record (TTR).

While the number of transactions in October was unchanged year-on-year, the valuations helped offset what has been a lackluster year for deal making in Mexico, overshadowed by the uncertain future of Nafta.

From January to October, there were 237 M&A deals in Mexico, 2.47% less than in the same period of 2016, when 109 operations were reported with disclosed deal values totaling US$14.8bn – an 18.3% year-on-year decline.

Key deals for the month

TTR highlighted the sale of Chicago-based East Balt Bakeries to Mexican bread giant Grupo Bimbo for US$650mn. Announced in July, the deal closed in October after regulatory approval and represented a significant expansion of Bimbo's global footprint and advance into the US market.

Source: Business News Americas / BN Americas - Chile