Transport & Logistics on the move in Brazil and Mexico

TTR-Deal-Tracker

Deal Tracker
www.TTRecord.com

 

LATIN AMERICA

BRAZIL: Transport, aviation and logistics dynamic in 2015

The transport and logistics sector is among the most dynamic in Brazil for the January to August period in 2015, with a 25% increase in transactional activity relative to the same period in 2014, according to TTR data (www.TTRecord.com). The number of international firms acquiring equity in Brazilian counterparts is considerable in both periods.

Brazil--Map-(GIF)---
Brazil-Graph


MEXICO:
Transport, aviation and logistics dealmaking keeps pace with Brazil

Dealmaking in the transport, aviation and logistics segment has skyrocketed in Mexico in the first seven-and-a-half months of 2015, with 11 deals in the sector together worth USD 286m, according to TTR data (www.TTRecord.com). This represents a 266.6% increase in deal volume and a 535.5% increase in aggregate value relative to the corresponding period in 2014. Mexico-Graph

Rankings / League Tables

Latin America Ranking – 2015

Financial Advisory – Year to Date (YTD)
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Banco Itaú BBA holds its lead by deal volume in TTR’s Latin America financial advisory ranking at mid-August, with 30 transactions worth nearly USD 19.2bn in aggregate. Its deal volume is down 33% compared to the first seven-and-a-half months of 2014, but it has almost tripled the combined value of its mandates. Banco BTG Pactual has advised on 25 transactions worth USD 18.5bn YTD, maintaining its second-place position in the ranking with one more deal under its belt compared to mid-August, 2014 and a 110% increase in the combined transaction value of its mandates. Banco Bradesco climbed two positions to take third in the chart relative to the comparable period in 2014, with nine transactions worth nearly USD 15.6bn, compared to 10 deals together worth nearly USD 4.7bn a year ago, when it placed fifth. Banco Santander follows, also with nine deals under its belt, in its case worth USD 5.5bn, to maintain the same fourth-place position it held in mid-August, 2014. BAML fell two spots from its third-place position at this point last year to take fifth, having advised on eight transactions together worth USD 5.9bn YTD compared to 11 worth USD 9.8bn a year ago. Spain’s BBVA, in sixth, has advised on seven deals worth USD 2.3bn in aggregate, YTD. It wasn’t among the top 10 a year ago. Nor was PwC, in seventh place with six deals together worth USD 415m, nor BR Partners, in eighth, also with six deals, worth USD 292m combined. Deutsche Bank fell one position to ninth, with five deals together worth USD 18.3bn, compared to eight worth USD 10.8bn a year ago. JPMorgan has knocked Citigroup, last year’s trailing bank at mid-August, from the top 10, to take up the rear with five deals worth USD 18.1bn combined.

 

Legal Advisory – Year to Date (YTD)
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Jones Day maintains its safe lead in TTR’s Latin America legal advisory ranking at mid-August, with 18 advisory mandates under its belt, worth USD 2.5bn in aggregate. The firm climbed from fourth place in mid-August, 2014, when it’d advised on 11 deals worth USD 1.9bn combined. This more than doubles the deal volume of Baker & McKenzie, the number two firm in the chart, which has advised on eight transactions worth USD 1bn YTD, compared to 23 worth USD 8.8bn a year ago when it led the ranking. At third with seven deals together worth nearly USD 14bn, Clifford Chance wasn’t among the top 10 in mid-August, 2014 and today leads aggregate deal value by a long shot. Akin Gump Strauss Hauer & Feld, the fourth-ranked firm, was also absent from the top-10 at this point in 2014. This year it has advised on six deals worth USD 5bn thus far. Skadden, Arps, Slate, Meagher & Flom holds the fifth position with six deals worth USD 766m, a 100% increase in deal volume and a 130% increase in combined value compared to its performance to mid-August, 2014, when it too did not place among the top 10. Also with six mandates YTD, Holland & Knight rose from last in the top 10 to sixth, by adding just one transaction, despite an 84% decline in combined deal value from USD 3.1bn to USD 500m. Milbank, Tweed, Hadley & McCloy was also absent from the 10 leading legal advisors in Latin America in mid-August, 2014, and now ranks seventh with five transactions under its belt, together worth USD 5.6bn. Simpson Thacher & Bartlett fell from second in mid-August, 2014, when it’d advised on 13 deals worth USD 6.5bn, to rank eighth YTD in 2015 with its five mandates worth USD 3.1bn. Sullivan & Cromwell didn’t place among the top 10 in the first seven-and-a-half months of 2014 and today ranks ninth with four deals worth nearly USD 4.8bn in aggregate. Another newcomer to the top 10, Sherman & Sterling, brings up the rear with four advisory mandates worth USD 569m.

 

Brazil Ranking – 2015

Financial Advisory – Year to Date (YTD)
3

 

Banco Itaú BBA remains at the top of TTR’s Brazil financial advisory ranking at mid-August, the same position it held a year ago. It has advised on 28 transactions YTD together worth USD 19bn, compared to 35 in the January-to-mid-August period of 2014. This represents a 20% decline in advisory mandates and a 461% increase in the combined value of its deals. Banco BTG Pactual follows, with 16 transactions under its belt so far in 2015 compared to 20 in the corresponding period last year, representing a 20% decline in volume and a 130% increase in aggregate value. Banco Bradesco BBI rose one spot relative to last year to take third place with nine transactions worth nearly USD 15.6bn in total compared to its 10 deals worth just under USD 4.7bn a year ago. In Fourth, BAML has advised on six deals to tie by volume with the fifth-place investment bank, BR partners. It’s USD 5.8bn in combined deal value puts it far ahead of its closest rival’s USD 282m, meanwhile. BAML didn’t rank among the top 10 financial advisors in Brazil a year ago when BR Partners held the trailing position in the top 10 with four deals worth USD 487m in aggregate. JPMorgan, in sixth with five deals under its belt worth USD 18.1bn combined, representing a 400% increase in volume, was also absent from the top-10 a year ago, as was Deutsche Bank, ranked seventh with four deals together worth nearly USD 15.8bn. Rothschild climbed one spot to eighth with four deals worth almost USD 12.7bn, representing a 1,500% increase in deal value for the same number of transactions it’d advised on in the corresponding lapse of 2014. Deloitte and PwC hold the ninth and tenth positions, respectively, in the Brazil chart, also having advised on four deals. PwC placed eighth for the same period of 2014, also with four deals, then worth USD 834m compared to USD 60m YTD in 2015.

 

Legal Advisory – Year to Date (YTD)
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It’s a heated battle for dominance in TTR’s Brazil legal advisory ranking at mid-August, with Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados maintaining a thin lead owing to the weighted value of the firm’s 36 deals together worth nearly USD 16bn, compared to competitor Pinheiro Neto Advogados’ 36 deals worth USD 10bn combined. Pinheiro Neto led by volume a year ago when it had advised on 38 transactions worth just under USD 6.5bn for Mattos Filho’s 35 worth some USD 7.5bn. Machado, Meyer, Sendacz e Opice Advogados maintains the third-place ranking it held a year ago with 26 deals together worth USD 12.6bn compared to 30 worth USD 2.2bn in mid-August, 2014. Barbosa, Müsnich, Aragão ranks fourth with 22 deals worth just under USD 10bn YTD, rising from eighth a year ago when it’d advised on 19 deals worth nearly USD 4.9bn combined for the corresponding period. Souza Cescon Advogados climbed two rungs from this time last year to take fifth with 22 transactions worth USD 5.6bn combined compared to 21 worth nearly USD 10.3bn a year ago, representing about a 5% increase in volume and a 45% decline in combined value. Demarest climbed from ninth to take sixth, with 19 deals worth just under USD 1.3bn compared to 19 worth USD 2bn a year ago. Veirano Advogados follows in seventh by volume, tied with TozziniFreire Advogados, in eighth, with USD 5.6bn and 917m in combined deal value, respectively, for their 17 advisory mandates. Veirano fell 26% in deal volume from sixth a year ago, TozziniFreire 19% from fifth a year ago. Koury Lopes Advogados climbed one spot to take ninth place compared to its tenth-place position a year ago, with 12 deals worth USD 92m today compared to 14 worth USD 1.4bn then. At the rear, Lefosse Advogados has advised on 10 deals YTD, worth USD 10.3bn. It didn’t place in the top 10 at mid-August, 2014.

 

 

Mexico Ranking – 2015

Financial Advisory – Year to Date (YTD)
5

 

BBVA leads TTR’s Mexico financial advisory ranking at mid-August with four deals under its belt together worth just shy of USD 2bn. It rose from sixth a year ago, increasing deal volume by 100%. Pablo Rión y Asociados follows, also with four transactions YTD, together worth USD 81m, to the extent their values have been disclosed. Banco Santander ranks third, up from last place in the corresponding chart a year ago, with three transactions worth USD 864m in aggregate compared to one deal a year ago worth USD 1.3bn. Alfaro, Dávila y Ríos follows in fourth, with two deals under its belt, worth USD 2.1bn combined. Credit Suisse Group, Evercore Partners, Vace Partners and BAML have also advised on two transactions in Mexico YTD, and rank accordingly by relative combined transaction value. Of the financial advisors that have advised on two transactions YTD, only BAML made the top 10 in the corresponding period of 2014 when it’d also advised on two deals, then worth USD 634m compared to USD 88m today, representing an 86% decline in combined value. Deutsche Bank fell from third at mid-August 2014, to ninth for the corresponding period this year, advising on one deal worth USD 2.5bn compared to two last year worth nearly USD 1.8bn. Deutsche Bank ties the last place advisor in the top 10, Citigroup, which has also advised on one deal, in its case worth USD 1.2bn.

 

Legal Advisory – Year to Date (YTD)

 

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Creel, García-Cuéllar, Aiza y Enríquez holds a safe lead in TTR’s Mexico legal advisory ranking at mid-August with 17 deals together worth just under USD 2.7bn. The firm also led the chart a year ago when it’d advised on 20 deals worth nearly USD 8.6bn in aggregate. Mijares, Angoitia, Cortés y Fuentes has clinched the number two spot, as it did a year ago, with 11 deals worth USD 3.1bn, compared to 12 worth USD 2.4bn in mid-August, 2014. Galicia Abogados rose three rungs from sixth a year ago to take third, with nine deals together worth USD 5.3bn, compared to five worth USD 1bn for the corresponding period in 2014. Jones Day México, absent from the top 10 a year ago, ranks fourth, with eight advisory mandates YTD, worth some USD 2.2bn combined. Holland & Knight México, in fifth, has advised on five transactions thus far in 2015, worth USD 500m combined, compared to four in the corresponding period of 2014, worth nearly USD 2.3bn, when it’d placed seventh in the chart. Nader Hayaux & Goebel Abogados ranks sixth with its four deals worth nearly USD 4.7bn. The firm didn’t place among the top 10 at mid-August, 2014, nor did the seventh-place firm, Santamarina y Steta Abogados, also with four transactions under YTD, worth nearly USD 2.8bn. Basham Ringe y Correa holds firm to the eighth-place position it held in the chart in mid-August, 2014, with three deals worth a combined USD 1.3bn YTD, to tie by deal volume with the ninth- and tenth-placed firms, Ritch Mueller and White & Case. Both have also advised on three transactions so far this year, worth USD 204m and USD 83m, respectively. Ritch Mueller ranked third a year ago, when it’d advised on eight deals together worth USD 2.8bn, while White & Case then ranked fifth with six deals worth 686m combined.

 

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