M&A Newsletter — November 2022

Wintershall Dea (a subsidiary of BASF (ETR: BAS)) reached a definitive agreement to acquire a 37% interest in the oil exploration block based in the Cuenca Sureste of Mexico owned by Hokchi Energy (a subsidiary of Pan American Energy) for an undisclosed amount.

Mexico's Sensai Metrics, a developer of e-commerce analytics software for retail brands based in Mexico City, was acquired by Aplazo for an undisclosed amount.

Mexico's Delta Conectores, a manufacturer of electrical terminals and connectors based in Aguascalientes, Mexico, was acquired by Preformed Line Products (NAS: PLPC) for an undisclosed amount.

Pop Up, a popcorn-producing business unit based in Mexico City owned by Grupo Bimbo (MEX: BIMBOA), was acquired by Grupo Apex for an undisclosed amount.

Mexico's Sacapuntas, a digital-marketing services provider based in Mexico City, reached a definitive agreement to be acquired by Miranda Partners for an undisclosed amount.

Mexico's Organización Clínica América (OCA), a tertiary-care hospital institution based in Monterrey, Nuevo León, was acquired by Peru's Auna for an undisclosed amount.

City Express, City Express Plus, City Express Suites, City Express Junior and City Centro, five brands owned by Hoteles City (MEX: HCITY), were acquired by U.S.-based Marriot International (NAS: MAR) for USD $100.00 million.

Libanius, a Lebanese-origin food producer, was acquired by Mexico's Herdez del Fuerte (a joint venture of Grupo Herdez and Grupo KUO) for approximately MXN $600.00 million.

U.S.-based Oyster Financial, a developer of a financial platform for freelancers, startups and SMEs in Mexico based in San Francisco, California, was acquired by Yaydoo (a subsidiary of PayStand) for an undisclosed amount.

U.K.-based St Pierre Groupe, an operator of a European bakery with stores in the United Kingdom, the United States and Europe based in Manchester, was acquired by Grupo Bimbo (MEX: BIMBOA) for an undisclosed amount.

Cuéntame, a developer of an online psychology platform designed to provide wellness and mental-health programs to employees and their families based in Mexico City, closed a seed funding round of USD $1.30 million led by Impacta VC. Also participating in this round were Integra Groupe, 99 Startups, CerraCap Ventures, Lotux and Incisive Ventures, among others.

Mexico's Kueski, a developer of an online microlending platform designed to offer unsecured loans based in Guadalajara, Mexico, closed a funding round of USD $23.00 million with VARIV Capital.

Mattilda, a developer of a financial platform designed to streamline the financial and administrative processes of private schools based in Mexico City, closed a seed funding round of USD $10.00 million led by FinTech Collective. Also participating in this round were Spectra Investments, Xochi Ventures and seven other investors.

Parco, an operator of a mobile payment platform designed to pay for parking via mobile phone at shopping centers, restaurants and hospitals based in Zapopan, Mexico, closed a funding round for an undisclosed amount with Magma Partners.

Reworth, a developer of a financial platform designed to create and offer rewards-based loyalty programs based in Mexico City, closed a seed funding round of USD $2.80 million led by ALLVP. Also participating in this round were Actyus, K5 Ventures, NOA Capital, FJ Labs and Soma Capital, among others.

Tienda Pago, a developer of a commercial lending platform designed to provide mobile payments to small merchants in emerging markets based in Mexico City, closed a funding round of USD $12.00 million led by IDC Ventures and Women's World Banking. Also participating in this round were seven other investors.

Kukun, operator of an end-to-end technology platform aimed at transforming the hospitality industry in the region, based in Mexico City, closed a seed funding round of USD $4.50 million led by Bridge Latam, View Capital and FJ Labs. Antelo Capital and other undisclosed investors also participated in this round.

Pet's Table, operator of a marketplace platform aimed at providing fresh and healthy food for dogs, based in Tlalnepantla de Baz, Mexico, closed a seed funding round of USD $2.13 million with undisclosed investors.

Saftu, operator of a blood-bank software aimed at managing the stages of transfusion medicine, based in Monterrey, Mexico, closed a funding round for an undisclosed amount with Life is too short Capital.

U.S.-based Tally, developer of a credit-management platform based in San Francisco, closed a funding round of USD $80.00 million led by Sway Ventures, reaching a pre-money valuation of USD $775.00 million. Shasta Ventures, Cowboy Ventures, Kleiner Perkins, Andreessen Horowitz and Auria Capital, among others, also participated in this round.

Hong Kong's SPACE KILL, a developer and operator of a web3-based multiplayer party video game, closed a seed funding round for an undisclosed amount led by Matrix New World Engineering, Arpa Capital and TKX Capital. UpHonest Capital, Welight Capital and other undisclosed investors also participated in this round.

Mexico's Clivi, operator of a digital clinic aimed at transforming diabetes treatment based in Mexico City, joined 500 Startups LatAm.

Colombia's Foodology, operator of digital restaurant brands aimed at optimizing the food-processing experience within the kitchen, based in Bogotá, closed a funding round of USD $50.00 million through a combination of debt and equity with TriplePoint Capital, Endeavor Bulgaria, Spectra Investments, Kayyak Ventures and Wollef, among others.

Colombia's Elenas, operator of a social marketplace platform aimed at empowering women to sell cosmetics and beauty products online, based in Bogotá, closed a funding round of USD $20.00 million led by DILA Capital, reaching a pre-money valuation of USD $47.00 million. Endeavor Catalyst, MercadoLibre Meli Fund and 10 other investors also participated in this round.

Spain's Pulpo, developer of an online platform aimed at offering specialized vehicle-management services, based in Madrid, closed a funding round of EUR €8.00 million led by Nazca. FEMSA Ventures, Cracks Fund, Swanlaab Venture Factory and Fondo de Fondos, among others, also participated in this round.

U.S.-based Cicada, operator of a bond-trading platform based in Connecticut, closed a funding round of USD $7.60 million led by Kaszek and DILA Capital. Other undisclosed investors also participated in this round.

Colombia's HoyTrabajas, a Bogotá-based developer of a job-search platform, closed a seed funding round of USD $5.00 million led by K20 Fund, Magic Fund and Share Capital. Alpha Centauri Tech Ventures, Solid Ventures, Rebel Fund and Newtype Ventures, among others, also participated in this round.

U.S.-based Flourish, a San Francisco-based developer of a digital-rewards and engagement software designed to establish positive money habits, closed a funding round of USD $2.97 million with Amplifica Capital and other undisclosed investors.

Colombia's HippoBuild, a Bogotá-based developer of a vertical SaaS platform designed to provide a marketplace and financing solutions focused on SMB construction companies, closed a pre-seed funding round of USD $500,000.00 with B2 Founders and 99 Startups, reaching a pre-money valuation of USD $1.80 million.

Almacenadora Afirme (MEX: AFIRALM) carried out the issuance of short-term market securities (certificados bursátiles) in the amount of MXN $4,441.17 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Cetelem (MEX: CETELEM) carried out the issuance of long-term market securities (certificados bursátiles) in the amount of MXN $2,435.54 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Casa de Bolsa Santander.

ION Financiera (MEX: ION) carried out the issuance of short-term market securities (certificados bursátiles) in the amount of MXN $73.10 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Start Banregio (MEX: START) carried out the issuance of short-term market securities (certificados bursátiles) in the amount of MXN $701.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

GM Financial de México (MEX: GMFIN) carried out the placement of short-term market securities (certificados bursátiles) in the amount of MXN $2,583.98 million 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 $583.90 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) carried out the placement of short-term market securities (certificados bursátiles) in the amount of MXN $1,224.00 million on the Bolsa Mexicana de Valores (BMV) through Scotia Inverlat Casa de Bolsa.

Toyota Financial Services México (MEX: TOYOTA) carried out the placement of short-term market securities (certificados bursátiles) in the amount of MXN $654.34 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Volkswagen Leasing (MEX: VWLEASE) carried out the placement of short-term market securities (certificados bursátiles) in the amount of MXN $2,464.05 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México.

Arrendadora Actinver (MEX: ARREACT) carried out the placement of short-term market securities (certificados bursátiles) in the amount of MXN $940.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

Coca-Cola FEMSA (MEX: KOF) carried out the placement of long-term market securities (certificados bursátiles) in the amount of MXN $6,000.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México and HSBC Casa de Bolsa.

GRUMA (MEX: GRUMA) carried out the placement of long-term market securities (certificados bursátiles) in the amount of MXN $4,500.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Banorte, Casa de Bolsa BBVA México and Scotia Inverlat Casa de Bolsa.

Arrendadora Afirme (MEX: AFIRMAR) completed the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $405.45 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Base.

Grupo Palacio de Hierro (MEX: GPH) completed the placement of market securities (certificados bursátiles) for MXN $2,000.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa BBVA México, Casa de Bolsa Santander and Scotia Inverlat Casa de Bolsa.

Minera Frisco (MEX: MFRISCO) completed the placement of market securities (certificados bursátiles) for MXN $5,000.00 million on the Bolsa Mexicana de Valores (BMV) through Inbursa Casa de Bolsa.

Factoring Corporativo (MEX: FACTOR) completed the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $300.00 million on the Bolsa Mexicana de Valores (BMV) through Vector Casa de Bolsa.

Crediclub (MEX: CREDICL) completed the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $50.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Banorte, Actinver Casa de Bolsa and Casa de Bolsa Base.

Sistema de Crédito Automotriz (MEX: SICREAC) completed the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $88.48 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa.

Grupo Sanborns (MEX: GSANBOR) completed the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $50.00 million on the Bolsa Mexicana de Valores (BMV) through Inbursa Casa de Bolsa.

Financiera Bepensa (MEX: FINBE) completed the placement of short-term market securities (certificados bursátiles de corto plazo) for MXN $500.00 million on the Bolsa Mexicana de Valores (BMV) through Actinver Casa de Bolsa, Casa de Bolsa Banorte and Intercam Casa de Bolsa.

Grupo Minsa (MEX: MINSA) carried out the placement of short-term market securities for MXN $150.00 million on the Bolsa Mexicana de Valores (BMV) through Casa de Bolsa Banorte and Actinver Casa de Bolsa.

Servicios Broxel (BIVA: BRX) carried out the placement of long-term market securities for MXN $627.37 million on the Bolsa Institucional de Valores (BIVA) through Casa de Bolsa BBVA México and Actinver Casa de Bolsa.

Banco Nacional de Obras y Servicios Públicos (BIVA: BANOB) carried out the placement of development-bank market securities for MXN $7,472.00 million on the Bolsa Institucional de Valores (BIVA) through Casa de Bolsa BBVA México, HSBC Casa de Bolsa and Casa de Bolsa Santander.

Grupo Elektra (BIVA: ELEKTRA) carried out the placement of long-term market securities for MXN $5,500.00 million on the Bolsa Institucional de Valores (BIVA) through Actinver Casa de Bolsa and Punto Casa de Bolsa.

Banco Centroamericano de Integración Económica (BIVA: CABEI) carried out the placement of variable-rate medium-term notes for USD $3,000.00 million on the Bolsa Institucional de Valores (BIVA) through HSBC Casa de Bolsa and Scotia Inverlat Casa de Bolsa.

Argentina's Globant (NYS: GLOB), a technology company offering software engineering and information technology services, announced an investment of USD $90.00 million with the objective of strengthening its presence in the Mexican market.

South Korea's Samsung Electronics, a multinational electronics and IT company with a presence in 65 countries, announced an investment of USD $500.00 million in its plants in Querétaro and Tijuana to increase its home-appliance production in Mexico.

Farmacias del Ahorro, operator of a pharmaceutical chain in Mexico, announced an expansion plan of 1,500 stores over the next five years with an investment of MXN $7,500.00 million.

Mexico's Nemak (MEX: NEMAK), a global manufacturer of automotive components based in Nuevo León, announced an investment of USD $200.00 million in three production plants for electric-vehicle battery housings, one of them in García, Nuevo León and the other two in Germany and the Czech Republic.

U.S.-based Del Monte Foods, a food producer and distributor based in California, announced an investment of USD $30.00 million to increase its fruit and juice processing capacity at its plant based in Montemorelos, Mexico.

Mexico's Grupo Murano, a real-estate development company, inaugurated its new hotel complex I421 Live District Roma-Condesa in Mexico City with an investment of USD $150.00 million. The complex will house the Mondrian hotel from France's Accor and the Andaz hotel from U.S.-based Hyatt.

Kansas City Southern de México (KCSM), a freight-rail transportation company, announced an investment of approximately USD $80.00 million between 2023 and 2024 for the construction of a second rail section of the Nuevo Laredo, Tamaulipas bridge with the objective of improving international traffic between Mexico and the United States.

Grupo México Transportes (Ferromex) announced its 2023 investment plan of MXN $9,403.80 million. The resources will be allocated to the purchase of rail equipment and the execution of expansion and technology projects.

Mexico's Grupo Televisa (MEX: TLEVISA) announced the spin-off of certain businesses, including the operations of Club de Fútbol América and Estadio Azteca, games and lotteries, and magazine publishing and distribution. All of them will be grouped into a new public company to be listed on the Bolsa Mexicana de Valores (BMV).

Volkswagen de México announced a USD $763.50 million investment between 2022 and 2025 to modernize its Puebla-based vehicle plant with a new 100% electric paint shop powered by sustainable energy.