China has become the third-largest buyer of Latin American assets, as the region's M&A's double.
BY LBC STAFF
China is sailing up as a major force in Latin American mergers and acquisitions. Last year, China accounted for the third-largest origin of acquirer companies involved in Latin America’s 100 largest deals, according to a Latin Business Chronicle analysis of data from Thomson Reuters. That put it ahead of US and Spanish companies and only behind Brazilian and Mexican companies.
Chinese oil giant Sinopec acquired Brazil assets of Spain’s Repsol for $7.1 billion and US-based Occidental’s Argentina E&P assets for $2.5 billion. Meanwhile, Chinese chemicals company Sinochem acquired 40 percent of the Peregrino oil field project in Brazil for $3 billion, while the State Grid Corp. of China acquired several Brazilian power firms for $1.7 billion.
America Movil’s $27.4 billion acquisition of 100 percent of the stock of Carso Global Telecom – both companies controlled by Mexican mogul Carlos Slim – tops the sixth annual ranking of Latin America’s Top 100 Mergers & Acquisitions from Latin Business Chronicle and Thomson Reuters. It also ranked as the world’s largest deal last year, according to Thomson Reuters.
Other major deals in Latin America last year include ...
Keywords: Brazil, Chile, Colombia, Mexico, United States
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