Latin America: The boys from Brazil
Brazil has long been an M&A magnet for foreign buyers, often looking to pick up assets in the country's booming agribusiness, commodities and energy sectors. But data for the first half of 2010 recently released by ANBIMA, the Brazilian association of financial and capital markets firms, reveals that for the first time acquisitions abroad by Brazilian companies outweighed purchases of Brazilian businesses by foreign investors, in terms of both aggregate deal value and number of transactions. Brazilian businesses spent $22bn (£14bn) on purchases of foreign businesses in the six months to 30 June, compared with inbound acquisitions totalling $9.3bn (£5.9bn).
Brazil’s national champions are asserting themselves on the global stage as ambitious hunters of trophy foreign assets. Shearman & Sterling’s Rob Ellison reports
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