STATISTICAL REVIEW LATIN AMERICA Chart C: Chart C: Capital Markets 2012
5000 10000 15000 20000 25000 30000 35000 40000 45000
0 Chart G: Oil & Gas M&A (value)
Utility & energy- water supply
Utility & energy- gas
Utility & energy- electric power
Utility & energy- diversified
Oil & gas- exploration & development
10000 20000 30000 40000 50000 60000
0 2005 2006 2007 2008 2009 2010 2011 2012
Chart D: M&A 2012 (($ million) Metal & steel-
Oil & gas- pipeline (34) products (1,318) Mining-general (8,808)
Oil & gas- diversified (4,576)
has unfortunately languished. In 2008, the market saw only one mining transaction worth $4 million, and it saw only one oil and gas transac- tion in all of 2011. A similar pattern has been seen in Guatemala, after a spike in activity in 2010, the market has consistently slowed. In 2012, the market saw nine deals across five sectors worth $251 million. Dur- ing 2012, electric power brought in $228 million from one transaction – 50% less than in 2011. Hydroelectric power brought it 19 million from one transaction. In Honduras, although four transactions took place in the industry,
no monetary value was attached. The 2012 activity mirrored the activ- ity from the year before. In 2010, a mining deal brought in $20 mil- lion. In 2012, the Nicaraguan energy, natural resources, and utilities in-
Oil & gas-field equipment
& services (688) Utility & energy- hydroelectric power (918) Utility &
energy-gas (3,965) Oil & gas-exploration
& development (8,045)
Utility & energy- diversified (104)
Chart E: Mining M&A (volume) Total - $36.6 billion
10 20 30 40 50 60 70
Chart F: Mining M&A (value) 0
2000 4000 6000 8000 10000 12000 14000 16000 18000 20000
0 2005 2006 2007 2008 2009 2010 2011 2012 2005 2006 2007 2008 2009 2010 2011 2012 Metal & steel-processing (53)
Utility & energy- electric power (14,888)
Utility & energy- water supply (299)
dustries totaled $91 million with seven deals. Diversified utility and energy recorded two deals worth $69 million while mining saw four deals totaling $21 million. The 2012 activity was a complete uptick from 2011 and 2010 that saw five deals worth $1 million and two deals worth $23 million, respectively. Finally in Panama, mining overshadowed the energy, natural re-
sources, and utilities industries with three deals worth $180 million. There was some activity in the diversified oil and gas, waste manage- ment, hydroelectric power, and electric power sectors, but no monetary value is recorded here. In 2011, the same number of transactions took place with a total value of $219 million. The value of deals has been consistently low since 2007, when the industry brought in $205 mil- lion from eight deals.
Argentina Brazil Chile
Mexico Peru Others
Chile Last year was fairly busy for Chilean M&A. Down from its $9.3 billion peak in 2011, a total of 43 deals worth $6.5 billion took place during the course of 2012. The mining sector controlled the market with 25 deals worth $4.3 billion. Anglo American Sur, a company who owns copper assets in Chile, was targeted for $2.9 billion. Chile’s Vista Her- mosa Copper was purchased by Canadian firm QRS Capital for $35 million. Electric power recorded 10 transactions totaling $548 million. Metal
and steel products maintained its 2011 numbers with two deals worth 18 million. After a flat 2011, 2012 saw hydroelectric power close a deal worth $376 million. Nearly five years after it peaked, diversified utility and energy recorded two transac- tions worth $20 million in 2012.
Argentina Brazil Chile
Mexico Peru Others
Colombia The downward trend in the Colombian market continued in 2012, with 58 transactions totaling $2.21 billion. Min- ing, a staple of Colombia’s economy and one of the most highly sought prospects in the world (though stymied by regulatory problems and the inefficiency or incompetence of Colombian officials), was responsible for the most activ- ity, with 14 deals worth $1.14 billion. In spite of all the hur- dles faced by those seeking to explore or obtain licenses for mining, the sector appears to be regaining its 2010 momen- tum, when it closed 32 transactions totaling $2.6 billion. For the first time since 2008, the metal and steel process- ing sector recorded some activity and closed three deals
ENERGY & INFRASTRUCTURE | LATIN AMERICA 2013 5 Oil & gas-diversified
Oil & gas-exploration & development
Oil & gas-field equipment & services Oil & gas-pipeline
Oil & gas-refinery/ marketing
no. of deals $ million
$ million proceeds/value
Issued ECM
Internationally marketed DCM
$ million
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72 |
Page 73 |
Page 74 |
Page 75 |
Page 76 |
Page 77 |
Page 78 |
Page 79 |
Page 80 |
Page 81 |
Page 82 |
Page 83 |
Page 84 |
Page 85 |
Page 86 |
Page 87 |
Page 88 |
Page 89 |
Page 90 |
Page 91 |
Page 92 |
Page 93 |
Page 94 |
Page 95 |
Page 96 |
Page 97 |
Page 98 |
Page 99 |
Page 100 |
Page 101 |
Page 102 |
Page 103 |
Page 104 |
Page 105 |
Page 106 |
Page 107 |
Page 108