The number of M&A transactions in Mexico in the second quarter of 2014 increased 32% year-on-year to 45 from 34 in 2Q13, according to a report by data firm Transactional Track Record (TTR).

Total M&A deal volume reached US$13.6bn, down from US$28.1bn in the year-ago quarter.

Excluding Belgium-based AB InBev's US$20.1bn acquisition of a 50% stake in Mexican Corona beer manufacturer Grupo Modelo in 2Q last year, however, deal volume would have increased 68% in 2Q14.

The food industry was the most active in the quarter with six transactions, followed by the telecoms and financial services sectors with five each.

For the year-to-date, the financial services sector has been the most active with 12 transactions, according to the report.

The largest transaction in Q2 was Mexican billionaire Carlos Slim's buyback of US giant AT&T's 8.3% stake in his Mexican telco América Móvil for US$5.90bn.

Latin America targeted M&A volumes rose by 53% year-on-year to US$62.5bn in the first half of the year, helped by record volumes in Peru and Chile, market information firm dealogic said in a separate report last week.



BNAmericas - http://www.bnamericas.com/news/banking/mexican-m-a-activity-up-in-q2