BRAZIL: Uptick in food industry deals
Food industry transaction volume year-to-date in 2015 shot up 120% compared to the same period in 2014. Among the most noteworthy deals was the 50% acquisition of dairy products company Danubio by Vigor Alimentos for BRL 156.25m.
Acquisitions are brisk among Brazilian companies expanding abroad in the dairy industry, with two deals targeting Swiss producers and another a Colombian.
PANAMA: Colombian buyers step up acquisitions in Panama
Colombian acquirers increased their exposure to the Panamanian market making the Central American logistics hub a focus for buys in early 2015. Of a total of nine cross-border acquisitions launched by buyers from Colombia between January and mid-March, three had Panama-based targets, yielding a combined transaction value of some USD 372m, compared to only one deal in the isthmus with an undisclosed value in the corresponding period of 2014.
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Rankings / League Tables
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Latin America Ranking – 2015
Financial Advisory – Year to Date (YTD)
Brazil’s BTG Pactual leads the regional financial advisory rankings in Latin America by volume with a total of five deals YTD worth USD 8bn. Bradesco trails the top three advisors by volume but surpasses all by deal value with three deals worth a combined USD 9.38bn. By this time last year it also had also advised on three deals, though worth only USD 623.39m. Spain’s Banco Santander rose from sixth in the corresponding period of 2014 to take the number two spot by volume, while Itaú BBA fell from number one in 2014 to third in mid-March 2015 with four deals worth a respectable USD 4bn.
Legal Advisory – Year to Date (YTD)
Sullivan and Cromwell leads the YTD Latin America legal advisory ranking by value with three deals worth nearly USD 4.8bn, while Jones Day maintains the lead regionally by volume with six deals worth a combined USD 2bn. Jones Day rose from the number six spot in the corresponding January to mid-March period of 2014. Sullivan didn’t even appear among the top-10 for the corresponding period of 2014, but two hefty acquisitions for client AT&T sent the firm to the top by mid-March, 2015. Baker McKenzie rose from the number 10 spot in the corresponding period of 2014 to the number three position meanwhile, with three deals worth USD 373m YTD.
Brazil Ranking – 2015
Financial Advisory – Year to Date (YTD)
BTG Pactual leads the Brazilian financial advisory ranking YTD, having bumped last year’s leader at mid-March Itau BBA to number two spot. Bradesco rose from fifth by number of deals to number three spot while increasing the combined value of its deals 15-fold to a whopping 9.38bn. An appearance by Rothschild among the top ten at the number five spot with just two deals valued at a combined USD 7.83bn is nothing to scoff at.
Legal Advisory – Year to Date (YTD)
Demarest Advogados has had a great year so far, rising from sixth by mid-March 2014 to lead the ranking by volume, followed by Mattos Filho, whose nine deals valued at USD 7.9bn position it at number two by number of deals. Barbosa, Müssnich & Aragão at fifth by volume was absent from the top 10 at this point in 2014, and can now boast YTD transactions worth USD 9bn to lead its peers by combined deal value.
Mexico Ranking – 2015
Financial Advisory – Year to Date (YTD)
The financial ranking YTD in Mexico is characterized by few deals to set the advisors apart. As a result, Citigroup’s top position is shared with Moelis & Company in the same way it shared its lead in 2014 at mid-March with Centerview Partners. BBVA and Santander similarly share the number three and number four slots having advised on the same transaction, happily, nonetheless, as neither appeared in the top 10 ranking for the corresponding period of 2014.
Legal Advisory – Year to Date (YTD)
Creel, García-Cuéllar, Aiza y Enríquez can boast about holding its top ranking YTD compared to the same period in 2014, though in 2015 the USD 2.48bn combined value of its five transactions blows away its performance of 1Q14 when the value of its five deals didn’t hit USD 100m. At number two, Galicia has everything to celebrate with its combined transaction value of USD 5.2bn for three deals. Mijares, Angoitia, Cortés y Fuentes fell a spot to number three but grew its combined deal value slightly over the same period of 2014 to USD 1.52bn.