M&A Newsletter — April 2024

A facility located in Tlaxcala, Tlaxcala, owned by U.S.-based Corteva Agriscience, an Indiana-based producer of chemicals and seeds for the agricultural sector, was acquired by Dow México for an undisclosed amount.

Two concrete plants owned by Grupo Comosa, a Querétaro-based construction-products provider, were acquired by Holcim México for an undisclosed amount.

A 30% stake in an electric-power facility based in Monterrey, Nuevo León, owned by U.K.-based Atlantica Sustainable Infrastructure, a Brentford-based developer of renewable-energy production infrastructure, was acquired by an undisclosed investor for an undisclosed amount.

A stake in a solar-energy plant based in Durango, owned by Canada's Northland Power, a Toronto-based producer of renewable-energy generation infrastructure, was acquired by Cometa Energía for USD $205.00 million.

Mexico's Sirenna.IA, a developer of an Artificial Intelligence platform based in Nuevo León, was acquired by Colombia's Wekall for an undisclosed amount.

U.K.-based Murano, a London-based developer and operator of real estate focused on hotels, resorts and shopping centers in Mexico, reached a definitive agreement to acquire SPAC HCM Acquisition (NAS: HCMA) through a reverse merger, so that the combined entity will trade on the New York Stock Exchange under the ticker MRNO.

U.K.-based Renewable Energy Solutions, a Hertfordshire-based operator of renewable energy with a presence in 24 countries, announced the acquisition of Ingeteam for an undisclosed amount, with the aim of expanding its presence in the renewable-energy market in Mexico.

U.S.-based Marco's Pizza, an operator of a pizza chain in the United States and Puerto Rico headquartered in Ohio, reached a definitive agreement with Mexico's Grupo Pizza Amantes to open up to 50 locations in the country over the coming years.

Mexico's MagicLog, a Mexico City-based developer of a logistics platform for businesses, joined Endeavor Miami as part of its Endeavor ScaleUp Spring 2024 cohort.

Mexico's microTERRA, a sustainable plant-based specialty-ingredients producer based in Mexico City, is in the process of closing a funding round of USD $5.00 million with undisclosed investors, reaching a pre-money valuation of USD $20.00 million.

Mexico's Tally Legal, operator of a legal platform for corporate governance services based in Mexico City, closed a seed funding round with Calm Company Fund, BDev Ventures and Albert Ni, for an undisclosed amount.

Mexico's Grupago, operator of a digital payments platform designed to increase merchant acceptance rates and reduce costs based in Mexico City, closed a seed funding round of USD $4.30 million led by Deciens Capital. Clocktower Technology Ventures and six other investors also participated in this round.

Mexico's Prescrypto, operator of a digital medical prescription platform for the creation and delivery of online prescriptions based in Mexico City, closed a funding round for an undisclosed amount with StartUp Health.

Canada's Joyride, a software platform developer for micro-mobility businesses based in Toronto, closed a funding round of CAD $7.00 million led by Yamaha Motor. Export Development Canada, Two Small Fish Ventures and two other investors also participated in this round.

Chile's Done Properly, operator of technology focused on the manufacturing of healthy and sustainable food based in Santiago, closed a funding round for an undisclosed amount with Savia Ventures.

Mexico's Batech, developer of a real-time monitoring system that uses artificial intelligence to improve business efficiency based in Querétaro, joined Magical and received financing in the form of SAFE notes for an undisclosed amount.

Mexico's Neivor, developer of a property-management platform designed to digitize condominium administration based in Mexico City, closed a funding round of USD $600,000.00 with undisclosed investors.

Mexico's Taxo, a developer of a tax-software platform focused on tax-filing automation for individuals based in Mexico City, closed a seed funding round of USD $1.20 million with Seedstars, Buen Trip and two other investors.

Peru's Leasy, an operator of an automotive financing-services platform for ride-hailing drivers based in Lima, closed a funding round of USD $28.00 million through a combination of debt and equity. The debt portion was provided by undisclosed investors and the equity portion was led by Magma Partners with the participation of DeBa Ventures, NOA Capital and Capem.

Almacenadora Afirme (MEX: AFIRALM) carried out the placement of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $3,257.55 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Arrendadora Actinver (MEX: ARREACT) carried out the placement of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $100.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Actinver.

Arrendadora Afirme (MEX: AFIRMAR) carried out the placement of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $1,452.29 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Factoraje Afirme (MEX: AFIRFAC) carried out the placement of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $166.76 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Almacenadora Mercader (MEX: ALMER) carried out the placement of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $130.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México, Intercam Casa de Bolsa and Actinver Casa de Bolsa.

América Móvil (MEX: AMX) carried out the placement of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $2,051.37 million and of foreign credit instruments (títulos de crédito en el extranjero) in the amount of MXN $17,500.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Goldman Sachs, Inbursa, JP Morgan, among others, respectively.

Factoring Corporativo (MEX: FACTOR) carried out the placement of short-term market securities (certificados bursátiles) in the amount of MXN $206.96 million on the Bolsa Mexicana de Valores (BMV) through Vector Casa de Bolsa.

Financiera Bepensa (MEX: FINBE) carried out the placement of short-term market securities (certificados bursátiles) in the amount of MXN $357.93 million on the Bolsa Mexicana de Valores (BMV) through brokerage firms Actinver, Banorte and Intercam.

Ford Credit de México (MEX: FORD) carried out the placement of short-term market securities (certificados bursátiles) in the amount of MXN $1,830.00 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa and Casa de Bolsa Banorte.

Fundación Dondé (MEX: DONDE) carried out the placement of short-term market securities (certificados bursátiles) in the amount of MXN $700.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

Genomma Lab Internacional (MEX: LABB) carried out the placement of short-term market securities (certificados bursátiles) in the amount of MXN $150.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Actinver Casa de Bolsa.

GM Financial de México (MEX: GMFIN) carried out the placement of short- and long-term market securities (certificados bursátiles) in the amounts of MXN $2,161.18 million and MXN $1,000.00 million, respectively, on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa and Casa de Bolsa Banorte.

Navistar Financial (MEX: NAVISTS) carried out the placement of short-term market securities (certificados bursátiles) in the amount of MXN $230.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

NR Finance México (MEX: NRF) carried out the placement of short-term market securities (certificados bursátiles) in the amount of MXN $10,321.69 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Paccar Financial México (MEX: PCARFM) completed the placement of short- and long-term stock market certificates for MXN $1,683.00 million and MXN $750.00 million, respectively, on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa and Banorte Casa de Bolsa.

Sicrea Autofinanciamiento (MEX: SICREA) completed the placement of short-term stock market certificates for MXN $59.97 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

Start Banregio (MEX: START) completed the placement of short-term stock market certificates for MXN $283.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

Toyota Financial Services México (MEX: TOYOTA) completed the placement of short-term stock market certificates for MXN $775.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Volkswagen Leasing (MEX: VWLEASE) completed the placement of short-term stock market certificates for MXN $2,771.62 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

BBVA (MEX: BBVA) completed the placement of short- and long-term structured bonds for MXN $133.60 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México.

Sigma Alimentos (MEX: PCARFM) completed the placement of long-term stock market certificates for MXN $10,000.00 million on the Bolsa Mexicana de Valores (BMV) through brokerage houses Scotia Inverlat, HSBC and Santander.

Dalton Financiera (MEX: DAFCB) completed the placement of fiduciary stock market certificates for MXN $500.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Casa de Bolsa Ve Por Más.

Banco Compartamos (MEX: COMPART) completed the placement of long-term market securities (certificados bursátiles) for MXN $3,500.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México.

Grupo Carso (MEX: GCARSOA1) completed the placement of short-term market securities (certificados bursátiles) for MXN $6,000.00 million on the Bolsa Mexicana de Valores (BMV) through Inbursa Casa de Bolsa.

Megacable Holdings (MEX: MEGACPO) completed the placement of short-term market securities (certificados bursátiles) for MXN $3,944.86 million on the Bolsa Mexicana de Valores (BMV) through Inbursa Casa de Bolsa.

Naturgy (MEX: NTGY) completed the placement of short-term market securities (certificados bursátiles) for MXN $3,500.00 million on the Bolsa Mexicana de Valores (BMV) through brokerage firms Inbursa, BBVA México and Scotia Inverlat.

Mexico's FEMSA (MEX: FEMSA), owner of the OXXO chain, Coca-Cola FEMSA (MEX: KOF) and FEMSA Digital, based in Monterrey, announced its investment plans in Mexico for MXN $170,000.00 million over the next five years as part of its FEMSA Forward strategy.

Mexico's Grupo Bafar, one of Mexico's leading processed-meat producers based in Chihuahua, announced its departure from the Bolsa Mexicana de Valores (BMV) to list on the Bolsa Institucional de Valores (BIVA) under the ticker BAFAR.

France's BIC, a manufacturer of stationery, personal-care and household products based in Paris, inaugurated a plant in the municipality of Ramos Arizpe, Coahuila, with an investment of MXN $30.00 million.

Switzerland's Sulzer, a manufacturer of machinery and systems for the industrial sector based in Winterthur, announced an investment plan for MXN $120.00 million to build an industrial facility in the State of Mexico for the manufacturing of hydraulic pumps and industrial equipment.

Mexico's Neverías Frody, an ice cream and snack chain that supports various social causes such as breast cancer awareness and charitable foundations, based in Mexico City, where it already operates more than 50 locations, announced its expansion plans across the rest of the country, particularly in the north and the Bajío region.

Argentina's N5Now, a Fintech developer focused on business efficiency and data analytics based in Buenos Aires, announced its expansion plans in Mexico to increase its international presence, with an investment of USD $20.00 million.

Colombia's Rappi, a developer of a food-delivery app with a presence across Latin America, announced its investment plans in Mexico of USD $110.00 million to optimize its operations and increase its presence in the country.

Argentina's Mercado Libre, a developer of an e-commerce platform with a presence across Latin America, announced its investment plans of USD $2,450.00 million in Mexico to consolidate its logistics network in the country, as well as the development of its Mercado Pago app.

U.S.-based Sempra Infrastructure, a renewable-energy producer and developer of technologies focused on the energy transition, announced the construction of a wind farm in the city of Tecate, Baja California, for an estimated amount of USD $550.00 million.

China's IKD, a producer of aluminum components used across various industries based in Ningbo, announced its investment plans of MXN $3,000.00 million (approximately USD $178.00 million) in the state of Guanajuato to expand its auto-parts production.

China's Minth Group, one of the world's largest auto-parts manufacturers based in Ningbo, announced its investment plans of USD $173.50 million for the construction of two production plants in Aguascalientes.

Canada's Magna International, an auto-parts manufacturer based in Aurora, announced its investment plans of USD $166.00 million in a new production plant in Ramos Arizpe, Coahuila, where it currently operates ten plants and employs 15,000 people.

Japan's Yokohama Rubber, a globally active tire manufacturer, announced its investment plans to open a new production plant in Saltillo, Coahuila, for an amount of USD $380.00 million.