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25 Sep 2019, Stella Zlatareva, EMIS M&A Team

August's Top M&A Deals per region

Emerging Europe

The top deal in the region this month was the purchase of a 22.5% stake in one of Russia’s largest domestic pig producers, Agro-Belogorye. As part of the agreement, domestic agricultural holding company RusAgro Group bought the minority interest for about USD 255mn from Alexander Solovyev, former Board Chairman of Central-Chernozem Bank of Sberbank. Solovyev told media that the rationale behind the disposal was raising funds for investments into his medical business.

Africa and the Middle East

During August, Africa and the Middle East lacked large-scale deals and as a result, the largest acquisition turned out to be the USD 93mn takeover of South African specialty chemicals producer Lanxess Cisa. For the buyer, Chinese vitamins and chemical producer Brother Enterprises, the deal marked the first international purchase in its history. 

Latin America and the Caribbean

August was a good month for the region as several multi-million deals took place. The most expensive one was the buyout of Brazilian renewable energy producer CPFL Energias Renovaveis. As part of it, local energy group CPFL Energia acquired the remaining 47% in the target for USD 986mn from Chinese utility State Grid Corp and is now the sole shareholder of the company. The agreement followed a dispute between the seller and CPFL Energias Renovaveis‘ minority shareholders as the latter refused to tender their shares to the Chinese company on grounds that the offer was too low, according to them. 

Emerging Asia

Three deals in the region surpassed USD 1bn in value in August but the top one was the takeover of Thai lender Thanachart Bank by local TMB Bank. The purchase comes after the parties signed a non-binding agreement in February and at USD THB 130bn (USD 4.23bn) it was dubbed Thailand’s largest banking M&A deal. The transaction will create the country’s sixth-largest bank with assets of USD 59bn and around 10 million retail customers.

Original source: EMIS - DealWatch