Brazil M&A, Part 1: review and look ahead
Brazil has emerged as the M&A leader in Latin America. The renaissance was pushed by changes to sector regulation combined with Petrobras’ robust divestment program. Many of 2019’s tailwinds remain. But the recent oil price rout will undoubtedly hinder dealmaking. If Brent prices average US$35/bbl for the remainder of the year, several assets currently on sale would be uneconomic. Are there still opportunities out there for savvy buyers?