Latin America: M&A’s Decline
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7th February 2012

The value and number of mergers and acquisitions dropped in Latin America last year.
 
BY JOACHIM BAMRUD
 
Mexican mogul Carlos Slim, the world’s richest man, again dominates Latin America’s dealmaking.
 
Three of his companies were among the top ten deals in the region last year, including the top two.
 
The $7.7 billion initial public listing of Mexico-based Minera Frisco leads the ranking of Latin America’s Top 100 Mergers and Acquisitions from Latin Business Chronicle based on data from Thomson Reuters. 
 
The mining company, a unit of Carlos Slim’s Grupo Carso, listed its shares on the Mexican Stock Exchange on January 3, 2011.
 
The $6.5 billion merger of telcos America Movil and Telmex – both controlled by Slim – was the second-largest deal.  A third Slim company, Inmuebles Carso, become the ninth-largest deal last year when its spin-off raised $2.6 billion.
 
All in all, the top 100 M&A’s reached $118.6 billion, a 36.7 percent decline from 2010. The big decline was largely due to some exceptionally big deals in 2010 (including the $27.4 billion purchase of Carso telco assets by America Movil).
 
Meanwhile, the decline fits a general pattern in Latin America and emerging markets. Total Latin American M&A volume fell 27 percent in Latin America to $157.0 billion, according to Thomson Reuters.
 
Also other emerging markets like China, Eastern Europe and Africa posted M&A volume declines. …

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