In a year of significantly increased Chinese buying of LatAm assets, CNOOC’s purchase of 50% of Bridas was one of the largest South-South deals.
Category: Deals of the Year Awards
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BEST DOMESTIC M&A TRANSACTION
Braskem’s 2010 acquisition of Quattor Participacoes, Polibutenos and Unipar Comercial forges a new petrochemical giant in the Brazilian petrochemicals market.
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DEALS OF THE YEAR RESULTS
Biggest, tightest, longest, cheapest. Superlatives abound when describing LatAm capital markets and advisory for the last 12 months, and many bankers expect the good times to continue rolling.
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BEST PROJECT FINANCING
In just three months of extremely choppy external markets, Project Jaguar scored a coup.
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BEST SOVEREIGN LIABILITY MANAGEMENT
A mid severe volatility, liability management was not at the front of most issuers’ minds last year. In the sovereign space, the region’s largest and most market-ready issuers were not in great need, and the market was tricky for most others.
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BEST LOCAL CURRENCY FINANCING
Mexican telecom giant América Móvil’s successful UF4.0 million ($145 million) April bond issue in Chile opens the gates to other LatAm companies seeking to raise funds in new markets.
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BEST PRIMARY EQUITY ISSUE
Ask a banker what he or she thinks makes an IPO a great deal and you are bound to hear an array of arguments including exaltations of the issuer’s “story,” the size of the book, benefits to selling shareholders, and an aftermarket pop.
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BEST PRIVATE EQUITY DEAL
In May 2009, private equity shop Advent International, which has more than $6 billion in assets under management, snapped up about 30% of Brazil securities clearinghouse Cetip-Balcão Organizado de Ativos e Derivativos for 360 million reais with funds from its LatAm PE fund, which is capitalized at $1.3 billion.
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DEALS OF THE YEAR RESULTS
Participants in last year’s capital markets bungee jump will remember it forever. In Latin America, the key lesson learned is that the bigger, more investor-friendly economies can take external shock on the chin.
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BEST FOLLOW-ON EQUITY ISSUE
A 5.3 billion real equity follow-on from Brasil Foods (BRF) was the standout in 2009 for a combination of disciplined execution in choppy times and its participation in the creation of the world’s second largest animal protein exporter.