M&A Newsletter — May 2022

Viva Aerobus, a low-cost airline operator based in Apodaca, Nuevo León, reached a definitive agreement to be acquired by Avianca Holdings (BOG: PFAVH) for an undisclosed amount.

A gold and silver mine based in Sonora, Mexico, owned by Premier Gold Mines (a subsidiary of Equinox Gold (TSE: EQX)), was acquired by Bear Creek Mining (TSX: BCM) for USD $125.00 million.

U.S.-based Mondelez International (NAS: MDLZ) reached a definitive agreement to acquire Ricolino, the confectionery business unit of Grupo Bimbo (MEX: BIMBOA), for approximately USD $1.30 billion.

Extendo, a company specializing in digital marketing, data analytics and data engineering based in Mexico City, was acquired by Incubeta for an undisclosed amount.

Brazil's LoopKey, a developer of an access-control system designed to help manage space access remotely, was acquired by Mexico's Casai for an undisclosed amount.

U.S.-based Rio Grande Sun, operator of a weekly newspaper company dedicated to reporting local and international day-to-day events based in New Mexico, was acquired by El Rito Media for an undisclosed amount.

GMéxico Transportes (MEX: GMXT) announced its merger with Infraestructura y Transportes México (ITM), a subsidiary of Grupo México (MEX: GMEXICO) whose primary activity is holding shares representing the capital stock of Grupo Aeroportuario del Pacífico (MEX: GAP). Through this transaction, the capital stock of GMXT would be increased by approximately MXN $10,033.00 million.

A 19.47% stake (held by InfraRed Capital Partners and Invex Controladora) in Mexico's Jaguar Solar Holdings, operator of a holding company specialized in solar power generation, was acquired by Ainda Energía & Infraestructura for an undisclosed amount.

Mexico's Micro Meat, a cellular agricultural technology developer designed to scale the production of cell-cultured clean meat, is in the process of closing a seed funding round of USD $2.00 million with undisclosed investors.

Zubale, a Mexico City-based developer of a business-management platform designed to connect brands and retailers with independent workers, closed a funding round of USD $40.00 million led by QED Investors. NFX and seven other investors also participated in this round.

Mexico's Plenna, a startup developer of an online platform for comprehensive women's healthcare, closed a seed funding round of USD $845,000.00 led by Canary. 500 Startups LatAm and 11 angel investors also participated in this round.

Crecy, a Mexico City-based developer of an online loan-application platform designed to offer alternative lending to gig-economy workers, closed a seed funding round of USD $398,400.00 with undisclosed investors.

Jüsto, a Mexico City-based developer of an online supermarket application designed for home delivery of food and other fast-moving consumer goods, closed a funding round of USD $152.00 million led by General Atlantic. Tarsadia Capital, Citius, Arago Capital, Foundation Capital and Quiet Capital also participated in this round.

Scorce, a Puebla, Mexico-based developer of a platform that aggregates APIs for companies seeking to scale their business across categories such as KYC, digital onboarding and fraud prevention, is in the process of closing an angel funding round of USD $950,000.00.

Prixz, a Mexico City-based developer of a medication-delivery platform, closed a funding round for an undisclosed amount led by SV Latam Capital, reaching a valuation of USD $100.00 million. Envlp Ventures, Ulu Ventures and other undisclosed investors also participated in this round.

U.S.-based MoonPay, a Miami, Florida-based developer of a cryptocurrency payments platform, closed a funding round of USD $555.00 million led by Tiger Global Management and Coatue Management, reaching a pre-money valuation of USD $2.85 billion. Aminoca Brands and 104 other investors also participated in this round.

U.S.-based Verdagy, a California-based developer of water-electrolysis technology designed to produce green hydrogen, closed a funding round of USD $44.00 million led by TDK Ventures, reaching a pre-money valuation of USD $75.00 million. Shell Ventures, Doral Energy Tech Ventures, BHP Ventures, Orbia Advance and Khosla Ventures, among others, also participated in this round.

Canada's VueReal, an Ontario-based micro-LED display developer, closed a funding round of USD $14.40 million led by Cycle Capital Management. Samsung Venture Investment, Veeco, TDK, Vitro Group and LG Electronics, among others, also participated in this round.

Colombia's Finkargo, a Bogotá-based developer of a technology financing platform for importing SMEs in Latin America, closed a seed funding round of USD $7.50 million led by Quona Capital and Maya Capital. Latitud, Santiago Molina, Tomás Shuk and Andrés Ferrer, among others, also participated in this round.

Spain's Cafler, a Barcelona-based developer of a digital automotive platform designed to offer vehicle mobility solutions, closed a seed funding round of USD $5.40 million led by Seaya Cathay Latam Fund.

U.S.-based Relativity6, a Massachusetts-based developer of a customer-analytics platform for financial organizations, closed a seed funding round of USD $5.25 million led by Fin Capital. State Auto Labs, Vectr Ventures, TyA Ventures and other undisclosed investors also participated in this round.

Peru's Instacash, a provider of a credit marketplace aimed at improving access to lending opportunities, closed a seed funding round of USD $800,000.00 with Alaya Capital, 500 Startups and Winnipeg Capital.

Spain's Buscoresi, a Barcelona-based provider of a student-housing search engine designed to offer accommodation to university students, closed an angel funding round of EUR €340,000.00 led by Josep Casas. Javier Etxebeste, Jesús Alonso Gallo, Jesús Rebollo and Juan José Mostazo also participated in this round.

Argentina's Biomakers, a leading precision-medicine pharmaceutical company specializing in oncological genetic and molecular testing, closed a funding round of USD $3.00 million. The proceeds will be used to expand the company into Mexico and Brazil.

Argentina's AlPrestamo, a Fintech developer of a digital financial-products platform, closed a funding round for USD $2.50 million. The proceeds will be allocated to the development of operations in Mexico and Colombia.

Colombia's Morado, an e-commerce startup specializing in the beauty industry, closed a funding round for USD $5.00 million led by Tiger Global, H20 Capital, QED Fontes, Latitud, Village Global and A16z. Also participating in this round were Simón Borrero, Felipe Villamarín, Sebastián Mejía, Andrés Bilbao and María Echeverri, among other angel investors.

Colombia's Minka, a Fintech developer of a payments network designed to improve the interoperability of financial institutions, closed a funding round for USD $24.00 million led by Tiger Global and Kaszek.

Mexico's CXTeam, a customer-experience consulting firm focused on Latin America, was acquired by Medallia through its financial sponsors Mubadala Investment Company and Thoma Bravo via an LBO for an undisclosed amount.

Bright, a solar-energy subscription-service provider offering clean energy to homeowners based in Mexico City, closed a funding round for USD $2.00 million in the form of convertible debt with undisclosed investors.

Tangelo, a technology company specializing in alternative credit for businesses, arranged a structured financing package for MXN $3,640.00 million with HSBC.

Brazil's Nubank, a technology company operating a neobank focused on Latin America, obtained a credit facility for USD $650.00 million with Morgan Stanley, Citigroup Inc., Goldman Sachs and HSBC. The proceeds will be used to drive the company's growth in Mexico and Colombia.

Mexico's Vitro, a glass manufacturer based in Monterrey, signed a credit agreement for USD $70.00 million with BBVA México maturing in 5 years. The proceeds will be used to finance the new furnace for its packaging business located at the Toluca plant.

Tribal, a financial-services platform developer for businesses, launched Tribal Ventures, a fund to support early-stage startups, in partnership with QED Investors, Softbank, Coinbase Ventures and BECO Capital.

Mexico's Infra, an industrial-gas producer based in the State of Mexico, carried out an investment of MXN $1,300.00 million in its new plant in San Luis Potosí, which will allow it to increase its supply capacity in the Bajío region.

Arrendadora Afirme (MEX: AFIRMAR) completed the placement of short-term market securities in the amount of MXN $648.32 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Almacenadora Afirme (MEX: AFIRALM) completed the placement of short-term market securities in the amount of MXN $2,090.90 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Factoring Corporativo (MEX: FACTOR) completed the placement of short-term market securities in the amount of MXN $210.00 million on the Bolsa Mexicana de Valores (BMV) through Vector Casa de Bolsa.

ION Financiera (MEX: ION) completed the placement of short-term market securities in the amount of MXN $486.70 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Factoraje Afirme (MEX: AFIRFAC) completed the placement of short-term market securities in the amount of MXN $100.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Start Banregio (MEX: START) completed the placement of short-term market securities in the amount of MXN $615.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

Volkswagen Leasing (MEX: VWLEASE) completed the issuance of short-term market securities (certificados bursátiles de corto plazo) for MXN $1,397.37 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México.

GM Financial de México (MEX: GMFIN) completed the issuance of short-term market securities (certificados bursátiles de corto plazo) for MXN $1,242.26 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa and Casa de Bolsa Banorte.

Paccar Financial México (MEX: PCARFM) completed the issuance of short-term market securities (certificados bursátiles de corto plazo) for MXN $400.00 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa.

Toyota Financial Services México (MEX: TOYOTA) completed the issuance of short-term market securities (certificados bursátiles de corto plazo) for MXN $537.68 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

AB&C Leasing de México (MEX: AB&CCB) completed the issuance of short-term market securities (certificados bursátiles de corto plazo) for MXN $2,500.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa and Casa de Bolsa Banorte.

Dalton Efectivo Seguro GDL (MEX: DESCB) completed the issuance of fiduciary market securities (certificados bursátiles fiduciarios) for MXN $462.625 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México.

Mercader Financial (MEX: MERCFIN) completed the issuance of short-term market securities (certificados bursátiles de corto plazo) for MXN $100.00 million on the Bolsa Mexicana de Valores (BMV) through Intercam Casa de Bolsa, Casa de Bolsa Banorte and Scotia Inverlat Casa de Bolsa.

Financiera Bepensa (MEX: FINBE) completed the issuance of short-term market securities (certificados bursátiles de corto plazo) for MXN $507.7215 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa and Casa de Bolsa Banorte.

Cetelem (MEX: CETELEM) completed the issuance of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $200.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México.

Almacenadora Mercader (MEX: ALMER) completed the issuance of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $200.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa and Casa de Bolsa Banorte.

Legorreta, Gómez y Asociados (MEX: ALTUMCK) completed the issuance of trust market securities (certificados bursátiles fiduciarios) in the amount of MXN $2,515.941 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

Mexarrend (BIVA: MEXAMX) completed the issuance of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $115.00 million on the Bolsa Institucional de Valores (BIVA) through Vector Casa de Bolsa.

Sofoplus (BIVA: SFPLUS) completed the issuance of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $75.00 million on the Bolsa Institucional de Valores (BIVA) through Casa de Bolsa Ve por Más.

Totalplay Comunicaciones (BIVA: TPLAY) completed the issuance of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $1,000.00 million on the Bolsa Institucional de Valores (BIVA) through Actinver Casa de Bolsa and Punto Casa de Bolsa.

Fideicomiso Hipotecario (BIVA: FHIPO) completed the issuance of short-term market securities (certificados bursátiles de corto plazo) in the amount of MXN $100.00 million on the Bolsa Institucional de Valores (BIVA) through Casa de Bolsa Banorte, Actinver Casa de Bolsa, HSBC Casa de Bolsa and Casa de Bolsa BBVA México.