Mexico’s energy reform begins to bear fruit

TTR-Deal-Tracker

Deal Tracker
www.TTRecord.com

 

LATIN AMERICA

BRAZIL: US buys on the increase

The number of deals led by US buyers in Brazil has increased 36.67% between January and May this year compared to the same period in 2014. Private equity led transactions in Brazil have also grown as a percentage of total deals from 30% to 41% over the same period.

Brazil--Map-(GIF)---

 
MEXICO:
Energy reform catalyzes oil and gas deals

Energy reform launched by the Mexican government in the past year allowing for greater participation of foreign investors in the oil and gas sector has begun to bear fruit. Between January and May the combined deal value in the oil and gas industry shot up 86.6% compared to the same period in 2014 from USD 750m to USD 1.4bn, while deal volume in the sector increased accordingly from one to four transactions.

Rankings / League Tables

Latin America Ranking – 2015

Financial Advisory – Year to Date (YTD)

 

Banco BTG Pactual rose one spot to take the lead in TTR’s Latin America financial advisory ranking for the first four-and-a-half months of 2015 compared to the corresponding period in 2014. BTG’s 10 deals YTD represent a 41% decrease in deal volume compared to its performance in the corresponding period last year, but a 54% increase in combined deal value totaling just over USD 9bn. Santander increased both volume and combined value significantly jumping from ninth with five deals worth USD 216m at this point in 2014 to take second place with eight deals worth a combined USD 5.6bn at mid-May, 2015. Banco Itaú BBA rounds out the top three with its seven deals worth nearly USD 4.2bn, falling from its leading position in mid-May 2014 when it had advised on 27 transactions worth a combined USD 2.6bn. Banco Bradesco BBI held its fourth place position with five transactions compared to six in mid-May 2014, but grew its combined deal value by a 157% to USD 9.1bn. Bradesco was only outdone by Deutsche Bank in value terms, ranking last in the top-10 by volume but leading the chart by combined value with its three deals worth a combined USD 10bn.

 

Legal Advisory – Year to Date (YTD)

 

Jones Day shot to the top of TTR’s Latin America legal advisory ranking at mid-May advising on 14 transactions with a combined deal value of USD 2.2bn compared to its second-place position with eight transactions at the same time of year in 2014 valued at USD 1.9bn. Baker & McKenzie dropped a spot to second place with five deals worth USD 653m compared to 13 worth USD 722m at this time last year. Sullivan & Cromwell rounds out the top three with its four transactions worth a whopping USD 4.8bn, putting it in the lead by aggregate deal value after being absent among the top-10 in mid-May, 2014.

 

Brazil Ranking – 2015

Financial Advisory – Year to Date (YTD)

 

Banco BTG Pactual leads TTR’s financial advisory ranking in Brazil at mid-May, replacing Banco Itaú BBA which held the lead for the first four-and-a-half months of 2014. Itaú was bumped to second place followed by Bradesco BBI, holding firm to its number three spot at this time last year while leading the top-10 by aggregate deal value. Bank of America Merrill Lynch, PwC, Rothschild and JPMorgan, the fourth-, fifth-, sixth- and seventh-ranked firms, respectively, were absent from the top-10 at mid-May 2014. Rothschild ranked third in Brazil by deal value behind Bradesco and BTG Pactual.

 

Legal Advisory – Year to Date (YTD)

 

Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados leads TTR’s legal advisory ranking in Brazil for the first four-and-a-half months of 2015 with 17 transactions totaling USD 10.5bn, up from third place at this time last year when it had advised on 17 transactions worth USD 6.2bn. Demarest rose from eighth place at mid-May 2014 when it had advised on 10 deals worth a combined USD 534m to take second place with 15 deals worth nearly USD 1.5bn. Rounding out the top-three, Machado, Meyer, Sendacz e Opice Advogados advised on 13 transactions worth a combined USD 3.2bn. The firm ranked ninth at this time of year in 2014 with nine transactions worth a combined USD 585m. Barbosa Müsnich Aragão and Lefosse Advogados, at seventh and ninth in the top-10 ranking, respectively, did not figure among the leading firms by deal volume in the first four-and-a-half months of 2014. Both have had stellar years so far, Barbosa with eight deals worth a combined USD 9.28bn and Lefosse with five transactions together worth USD 4.7bn.

 

 

Mexico Ranking – 2015

Financial Advisory – Year to Date (YTD)

 

TTR’s top-10 financial advisory ranking for the first four-and-a-half months of 2015 is filled with ties in Mexico, with two Spanish banks and Vace Partners inching ahead of the pack by volume with two transactions each under their belts, namely BBVA, Banco Santander and Vace Partners in first-, second- and third-place postions, respectively. Citigroup was the only financial advisor among the top-10 that also made the ranking in the corresponding period of 2014. It advised on one transaction in each period.

 

Legal Advisory – Year to Date (YTD)

The firms in TTR’s top-10 Mexico legal advisory ranking YTD in 2015 distinguished themselves clearly from one another, led by Creel, García-Cuéllar, Aiza y Enríquez with 13 transactions valued at a combined USD 2.7bn. Creel also led the ranking in the first four-and-a-half months of 2014, with nine deals worth a combined USD 637m. Galicia rose from fifth for the corresponding period in 2014 when it had advised on two transactions worth USD 750m, to take the number two spot with six deals worth a combined total of just under USD 5.3bn, leading the top-10 by value. Mijares, Angoitia, Cortés y Fuentes fell one spot from second place with five deals worth USD 1.68bn at mid-May, 2014 to third YTD in 2015, having advised on six transactions also worth roughly USD 1.68bn in aggregate. Jones Day ranks fourth with five deals worth USD 1.96bn, after being absent among the top-10 for the corresponding period of 2014. Nader Hayaux & Goebel ranks fifth in the YTD ranking by volume with three deals and second by value with transactions worth a combined USD 3.3bn. Nader had advised on only two deals worth a combined total of USD 132m at this time last year.

 

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