Technology leads deal flow in Brazil

TTR-Deal-Tracker

TTR Deal Tracker
www.TTRecord.com

LATIN AMERICA

TTR Deal Tracker is a monthly email update identifying M&A trends in Latin America and compiling YTD rankings of leading financial and legal advisors

BRAZIL: Technology sector buoyant

Financial Services deals have increased by 100% YTD compared to the first two months of 2015, according to TTR data (www.TTRecord.com).

There were eight deals in the space in the first two months of 2015 compared to four in the corresponding period last year.

CHILE: Real Estate asset deals on the rise

Financial Services deals have increased by 100% YTD compared to the first two months of 2015, according to TTR data (www.TTRecord.com).

There were eight deals in the space in the first two months of 2015 compared to four in the corresponding period last year.

Rankings / League Tables

Latin America Ranking – 2016

Financial Advisory – Year to Date (YTD)

Banco Itaú BBA leads TTR’s Latin America financial advisory ranking for the first two months of 2016 with six deals worth a combined USD 975m, the same number of transactions it advised on by the end of February 2015, when it also led the chart with six deals, then worth USD 219m in aggregate. Banco BTG Pactual follows in second with half as many transactions YTD, worth USD 716m, compared to two in the first two months of 2015 worth USD 171m. BBVA is tied for third with BR Partners, Ártica Investimentos and BNP Paribas, all with two advisory mandates in the first two months of the year and all of them absent from the top 10 in the corresponding period of 2015. BBVA nonetheless leads the chart by aggregate deal value, its two deals worth a combined USD 3.9bn. The last four positions in the ranking are shared by investment banks that advised on just one transaction to the end of February 2016, none of them having ranked among the top 10 for the first two months of 2015.Legal Advisory – Year to Date (YTD)

Baker & McKenzie shares its lead with Jones Day in TTR’s Latin America legal advisory ranking at the close of February, each with three transcations YTD. Baker & McKenzie also led the chart for the corresponding period in 2015, when Jones Day didn’t appear among the top 10. Davis & Gilbert, also absent from the top 10 a year ago, ranks third with two deals under its belt YTD. Fourth place by deal volume is shared by seven firms that have each advised on a sole transaction to the end of February, Allen & Overy and Ashurst with the greatest reported deal value of the lot at USD 1bn.

Brazil Ranking – 2016

Financial Advisory – Year to Date (YTD)


Banco Itaú BBA leads TTR’s Brazil financial advisory ranking by transaction volume with five deals YTD worth a combined USD 757m.Itaú is down one deal compared to its performance in the first two months of 2015, but up 245% by aggregate value from its six deals together worth USD 219m a year ago. Banco BTG Pactual follows in second with three deals together worth USD 716m. BTG Pactual ranked third at the close of February, 2015 when it’d advised on two deals worth USD 171m. BR Partners has advised on two transactions YTD worth USD 951m in aggregate, putting the firm in third place, up from seventh at the close of February 2015 when it’d advised on a sole transaction in the first two months of the year. Seven firms share fourth by volume with one deal each YTD, BAML sitting on top of the group with the greatest transaction value, which it shares with BR Partners. Of these, only IGC Partners Assessoria Empresarial was among the top 10 at the close of February 2015, when it placed fifth with two deals of undisclosed consideration.

Legal Advisory – Year to Date (YTD)


Souza Cescon Advogados leads TTR’s Brazil legal advisory ranking at the close of February with seven transactions YTD worth a combined USD 1.7bn, up from seventh place a year ago when the firm had advised on five deals together worth USD 8m. TozziniFreire Advogados ranks second with six deals worth a combined USD 322m YTD after not having ranked among Brazil’s top 10 firms for the first two months of 2015. Stocche, Forbes, Padis, Filizzola, Clapis, Passaro, Meyer e Refinetti Sociedade de Advogados ranks third, advising on five transaction in the first two months of 2016 worth USD 231m in aggregate. It too was absent from the top 10 a year ago. Pinheiro Neto Advogados, also with five mandates YTD, is down by one deal from its performance a year ago. Lefosse Advogados, in fifth, has advised on four deals in the first two months of the year, worth USD 472m combined. Lefosse did not place among the top 10 at the end of February 2015. Machado, Meyer, Sendacz e Opice Advogados ranks sixth, also with four advisory mandates YTD,  down from second a year ago when it’d advised on seven transactions in the first two months of the year. The firm’s aggregate deal value is up by 39% from USD 163m a year ago. Koury Lopes Advogados added one deal and climbed three positions in the ranking from tenth a year ago to place seventh. Pinheiro Guimarães Advogados lost two transactions compared to its performance in the first two months of 2015, falling from fifth to ninth in the ranking as a result, its aggregate deal value up by 12% from USD 188m a year ago. Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados fell from first in the chart at the close of February 2015 to tenth with two mandates YTD compared to nine for the corresponding period last year, its aggregate deal value jumping by 280% to USD 352m from USD 93m a year ago, nonetheless.

Mexico Ranking – 2016

Financial Advisory – Year to Date (YTD)

BBVA, Deutsche Bank, JPMorgan and Morgan Stanley all participated in the same transaction in Mexico that closed at the end of January, placing the four banks at the top of TTR’s Mexico financial advisory ranking for the first two months of the year. PwC follows in fifth place, also with a sole transaction under its belt, in its case of undisclosed consideration.Legal Advisory – Year to Date (YTD)

Santamaria y Steta Abogados leads TTR’s Mexico legal advisory ranking at the close of February with three advisory mandates YTD. The firm was not among the top 10 at the close of February 2015. Galicia Abogados follows in second, up from third a year ago, with one deal in both corresponding two-month periods. The remaining firms in the chart have also advised on a sole deal YTD, Ritch Mueller being the only among them to have ranked among the top 10 a year ago when it held the same seventh place position.

América Latina – El volumen de inversión en fusiones y adquisiciones en América Latina registra en febrero un aumento interanual del 27,3%

Latin-America-February

Informe mensual sobre el mercado transaccional latinoamericano

  • En total se han registrado en América Latina 127 operaciones por USD 11,111.7m
  • Las compañías latinoamericanas centran sus adquisiciones extranjeras en Europa y Norteamérica
  • Brasil y México se consolidan como los países más activos en número de operaciones

Madrid, 4 de marzo de 2015.- El volumen de inversión en fusiones y adquisiciones en América Latina ha registrado en febrero un aumento interanual del 27,3%, pasando de los USD 8,731.9m de febrero de 2014 a los USD 11,111.7 de este año, según el informe mensual de TTR (www.TTRecord.com) en colaboración con ONTIER. En cambio, el número de operaciones ha caído ligeramente hasta las 127, mientras que el año pasado esta cifra fue de 130.

Entre las transacciones más relevantes del mes, destaca la absorción por parte de la brasileña Rumo Logística de la también brasileña ALL- América Latina Logística, por un importe de USD 3,830.40m; así como la desinversión de la holandesa Heineken que ha vendido su filial mexicana Empaque a la estadounidense Crown Holdings por USD 1,225m.

Por países, Brasil y México se han consolidado como los más activos con 58 y 19 transacciones respectivamente. Les siguen Colombia con 16 y Chile con 12. En la cola quedan Argentina y Perú con 7 y 4 fusiones y adquisiciones, siguiendo la tendencia de los últimos meses.

En el ámbito cross-border, en febrero las compañías latinoamericanas han realizado adquisiciones estratégicas en Europa, principalmente en España y Reino Unido, y en Norteamérica. Por otro lado, las compañías que más compras han llevado a cabo en América Latina han sido las europeas con 27 adquisiciones, seguidas de las norteamericanas con 10 y las asiáticas (5).

El mundo del private equity ha comenzado el año con una escasa actividad y este mes se han registrado en América Latina 6 transacciones de esta naturaleza mientras que en el mismo mes de 2014 se produjeron 13 operaciones. Sin embargo, el venture capital sigue en auge y este mes se han llevado a cabo 18 inversiones en la región, tres más que en enero.


Transacción destacada

En Febrero de 2015, TTR ha seleccionado como transacción destacada la compra por parte de la colombiana Valórem de un porcentaje del 34,32% del capital social de la panameña Koba International Group, por un importe de USD 68.69m. En la transacción ha participado como asesor legal la firma de abogados colombiana Posse Herrera Ruiz.

Para más información:

Leticia Garín

TTR – Transactional Track Record

Tlf. + 34 91 279 87 59

leticia.garin@TTRecord.com

www.TTRecord.com

 

TTR – Transactional Track Record es un servicio premium online de apoyo a las decisiones de inversores, empresarios y asesores. Incluye la mayor base de datos de transacciones del mercado hispano-portugués, así como el acceso a los detalles financieros de las empresas implicadas.