Financial services deals peaked in September at seven
Aggregate deal value in the Financial Services market fell 78% YoY to USD 775m
Transaction of the Year: Banco Santander increases stake in Banco Santander México
Mexico’s financial services
sector registered 49 mergers and acquisitions in 2019, between announced and
closed deals, for an aggregate deal value of USD 775m, according to
Transactional Track Record (TTR) data.
Financial Services led
deal-making in the country, ahead of tech and real estate, despite a 16% decline
in deal volume in the sector and a 79% fall in aggregate deal value.
Transactions in the
segment peaked in September in terms of volume and aggregate value, with seven
deals in the ninth month of the year together worth USD 315m.
Cross-Border Deals
The UK led outbound deal-making among
Mexico-based buyers with USD 40m invested in aggregate. The US led outbound
deal-making by volume, meanwhile, with 14 transactions to the close of the December
in the financial services sector.
Top M&A Deal
Banco Santander’s increase of ownership in Banco Santander México was
selected by TTR as Deal of the Year in the Financial Services industry.
Banco Santander announced it will issue 381,540,640 new shares,
representing 2.35% of the entity’s share capital worth some USD 216m.
Financial and Legal Advisory
Rankings
Creel, García-Cuéllar, Aiza and
Enríquez leads the Legal Advisory Ranking in Mexico with three transactions
worth a combined USD 216m. Ritch Mueller is tied by aggregate value while Basham
Ringe and Correa is tied by volume with the leading firm.
4Q19 Energy Sector Spotlight – Latin America
Posted on
LatAm Energy M&A Up Overall in 2019 Real Estate sector leads Spanish transactional market, although 17.07% falls until December
Deal
volume down in Argentina and Mexico YoY
Oil
and gas transactions dominate regionally, despite 65% decline in Mexico
Solar
transactions outpace oil and gas deals in Chile, notwithstanding overall
decrease in renewable deals
Power
sector transactions increase throughout the region, except in Brazil
Madrid, 31 January, 2020. Deal volume in the energy sector across Latin America is down 5% to the close of 4Q19, while aggregate transaction value increased 153% over the same 12 months last year according to Transactional Track Record data.
Volume and aggregate value of energy sector in LatAm. December 2018 to December 2019. Source: Transactional Track Record
Brazil leads by the sheer number of energy deals across the region with 129 transactions, followed by Chile, which registered the sharpest upswing in aggregate value with a 190% increase to USD 2.9bn.
Colombia ranks third by number of energy deals with 27 for the year,
followed by Argentina with 25 and Peru with 15.
Mexico is in last place among the top six M&A markets in the region,
registering a 65% decline in energy sector transactions with just 13 deals to
the close of 4Q19.
Oil and gas transactions lead energy
sector deal volume in the top six M&A markets, with the exception of Chile
and Peru, where the number of transactions in the power sector outpaced
extractives. In the case of Colombia,
the oil and gas and power sectors were at par with seven deals apiece for the
year.
Conventional energy deals outpaced
renewables in every market except Chile, where there were more solar
transactions than oil and gas deals, despite a 33% drop in the number of solar
energy transactions over 2018. Investment
in wind assets fell across the board, except in Colombia, where wind deals
increased markedly over 2018.
Buyers based in the EU led inbound
dealmaking in the energy sector for the year, with 53 transactions, followed by
North American bidders, with 33 deals, ahead of buyers out of Asia, with 15
deals. The US led inbound energy investments in Brazil, Colombia and Mexico,
the UK led inbound energy deals in Argentina, Colombia led energy investments
in Peru and France dominated in Chile.
Mattos Filho, Veiga Filho, Marrey
Jr. e Quiroga Advogados tops the regional ranking with 14 transactions, while
Machado, Meyer Sendacz e Opice Advogados leads by aggregate value on deals
totaling just under USD 9bn.
Banco BTG Pactual led energy sector dealmaking regionally in 2019 with 11 transactions worth a combined USD 1.24bn. Banco Santander leads by aggregate value, its three deals worth USD 8.83bn in aggregate.
TTR is a premium financial technology
platform that delivers unrivalled transactional data and actionable market
intelligence in real time, empowering professionals to seize opportunities and
make more informed strategic decisions. TTR aggregates transactional data from
thousands of sources, providing an indispensable resource of announced,
completed and cancelled transactions covering every industry.
M&A in Spain– Special Report
Posted on
Real Estate sector leads Spanish transactional market, although 17.07% falls until December
Spain registered until December 622 operations, related to real estate sector, represents a drop of 17.07% compared to the same period of 2018
July was the month with the highest number of operations in the Spanish real estate market
Real estate market in the country registers a 57.38% decrease in capital mobilized until December 2019
Featured Deal: TPG Capital closes the acquisition of 75% of Témpore Properties from Sareb
Spain’s real estate sector has registered until December 2019 a total of 622 mergers and acquisitions, between announced and closed, for an aggregate amount of EUR 13,568m, according to Transactional Track Record data (www.TTRecord.com).
Despite a decrease of 17.07% in the number of operations and 57.38% in the amount thereof with respect to the twelve months of 2018, operations in the real estate sector lead the Spanish transactional market, above from the technology sector, with 334 operations; financial and insurance, with 176 transactions; and consulting, auditing and engineering, with 138 businesses carried out.
In monthly terms, in December 2019, a total of 51 operations in the Spanish real estate sector have been accounted for with an aggregate amount of EUR 1,336.33m and, in accordance with the evaluation corresponding to the twelve months of 2019 in the Spanish transactional market, July has been the busiest month in the sector, with 79 operations and with EUR 2,030.57m of capital mobilized.
Transactions in the real estate transactional market from December 2018 to December 2019. Source: Transactional Track Record
Cross-Border Deals
With regard to Cross-Border transactions in the real estate market, so far this year, Spanish companies have chosen Portugal as the main destinations for their investments with 16 operations. In terms of amount, the United States is the country in which Spanish companies have made a larger disbursement, with a total amount of EUR 1,306.23m.
The United States (54), United Kingdom (42) and France (23) are the countries of origin of the largest number of investments made in Spain throughout the year in real estate. By amount, he leads the United States, with an aggregate amount of EUR 2,987.40m.
Top M&A Deal
One of the most outstanding M&A operations of the year in Spain in real estate has been related to Tempore Holdings in August 2019.
The Luxembourg company, owned by TPG Real Estate Partners III, a fund that is also controlled by the US private equity firm TPG Capital, has closed the acquisition of 75% of the Spanish SOCIMI Témpore Properties a Sareb (Asset Management Company from Bank Restructuring) for a value of EUR 247.32m.
Venture Capital
In the course of the year, 9 Venture Capital operations have been registered in the Spanish real estate sector, of which eight transactions have a disclosed value that together record a capital mobilized for EUR 53m.
Registered operations include those related to the Spanish startup ProntoPiso, which has received EUR 14m of venture debt financing led by Inveready Capital, Sabadell Venture Capital and other private investors. In addition, the startup Housell stands out, which has closed a round of financing of EUR 12m signed by Cerberus Capital Management and the Aviv Group.
Private Equity
Up to December 2019, 12 Private Equity operations have been registered in the real estate sector, of which 11 have a disclosed value that together record a mobilized capital of EUR 2,081m.
Of the registered operations, Oaktree Capital Management stands out, which has agreed to acquire 100% of the Spanish SDIN Residencial from Banco Sabadell for an amount of EUR 882m. The list also includes Tropic Real Estate Holding, which has acquired an additional 18.43% in the Spanish Testa Residencial from Banco Santander for EUR 349.40m.
