Latin American M&A rallies
Asset sales in the region are again starting to lure buyers after a tough financial year
Latin American deal-making staged a recovery in Q3 after months of capex cuts and little incentive to spend. And there could be more deals to come before the end of the year and into 2021. Brazil recorded a number of major deals in Q3 and also leads the region for M&A opportunities. Transactions valued at c.$346mn were agreed over the quarter, the most notable being Brazilian state-controlled oil company Petrobras' $155mn divestment of its Cricare onshore fields to specific purpose entity Karavan. Petrobras was, in fact, the seller in five of the six major Brazilian deals in Q3. Divestment remains a key component of the NOC’s strategy to pivot towards the pre-salt, the most profitable pa
Also in this section
23 October 2024
Majors in the region are pushing boundaries and could see significant upside, but longer-term risks remain
22 October 2024
Angola is unlikely to meet the official timeline for an IPO of state-owned oil giant Sonangol in 2026
21 October 2024
Companies operating offshore assets in the region are unlikely to halt development plans for now, even as hostilities intensify
21 October 2024
For the tanker market, recent escalation in the Mideast conflict has largely been offset by soft fundamentals