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Showing signs of life, M&A, private equity and venture capital deals in Mexico grew 14% year-on-year in October, according to the latest report from Transactional Track Record (TTR), out Thursday.

Some 25 transactions were reported in Mexico during October, of which 17 for which values were reported represented a total of US$2.58bn in capital changing hands.

The latest figure brings the total number of value-listed deals in Mexico to 246 in 2016, for a total reported value of US$25.1bn.

The housing sector has stood out this year, with 36 transactions so far. TTR, in collaboration with the Merrill Corporation, also noted that the US$2.58bn reported in October transactions was up 734% compared to the same metric in October 2015.

Examining some of the larger deals involving Mexico, beer giant Grupo Modelo sold its Obregón beer production facility to Constellation Brands for US$600mn and Mexican-Spanish construction conglomerate OHL México sold its subsidiary Organización de Proyectos de Infraestructura (OPI) to Australia's IFM Global Infrastructure Fund for US$448mn. Looking to Latin America, TTR chose to highlight the sale of Etex Group's South American Cerámica San Lorenzo's ceramic-siding units in Chile, Peru, Colombia and Argentina to Grupo Lamosa for US$230mn.

The activity reported for October showed some progress considering what has been a lackluster year for M&A in Mexico. Activity in Q3 was actually down 5% year-on-year in terms of the number of deals. In August, year-on-year growth in activity remained in single digits. TTR also reported that in 2016 Mexican firms demonstrated the greatest interest in investing in Chile (year-to-date investments of US$2.02bn), the US (US$1.52bn) and Spain (US$920mn), while the countries most interested in making deals in Mexico were the US (US$3.7bn) and Spain (US$1.35bn).

Source: Business News Americas / BN Americas - Chile