M&A Newsletter — October 2026

Mexico's Grupo Aeroportuario del Sureste (BMV: ASURB), an operator of airports and airport concessions in Mexico and Latin America, reached a definitive agreement to acquire Companhia de Participações em Concessões, the Brazilian business of Motiva Infraestrutura de Mobilidade (B3: MOTV3) dedicated to the operation of airports and urban-mobility assets in Brazil and Latin America. The transaction amount was USD $988 million.

Mexico's Grupo México (BMV: GMEXICOB), a multinational conglomerate specializing in mining, rail transportation and infrastructure, reached a definitive agreement to acquire Saavi Energía, a Mexican company dedicated to the generation and commercialization of electric power, headquartered in Mexico City. The estimated transaction amount was USD $560 million.

Mexico's Esentia Energy Development (BMV: ESENTIA), a company specializing in natural-gas infrastructure and transportation, reached a definitive agreement to acquire Energía Occidente de México, a Mexican natural-gas pipeline system owned by TC Energía, comprising a 313-kilometer natural-gas transportation network. The transaction amount was USD $400 million.

Canada's Luca Mining Corp. (TSXV: LUCA), a mining company focused on the production and exploration of precious and base metals, reached a definitive agreement to acquire the Cozamin underground mine from Capstone Copper (TSXV: CS), a mining asset dedicated to the production of copper and other metals, located in Zacatecas, Mexico. The transaction amount was USD $385 million.

Canada's Luca Mining Corp. (TSX: LUCA), a mining company focused on the production and exploration of precious and base metals, reached a definitive agreement to acquire El Barqueño from Agnico Eagle Mines (TSX: AEM), a Mexican gold-exploration project located in Guachinango, Jalisco. The initial transaction amount was USD $10 million, with additional payments subject to the achievement of certain operational and production milestones.

U.S.-based Asia Broadband Inc. (OTC: AABB), a company specializing in the acquisition and development of precious-metal mining assets, reached a definitive agreement to acquire La Vencedora, a gold-and-silver mining concession in Jalisco focused on the exploration and exploitation of precious metals. The transaction amount was USD $5.5 million.

Canada's Regency Silver Corp. (TSX: RSMX), a mining company focused on the exploration and development of precious-metal projects, reached a definitive agreement to acquire Tarachi Gold, a mining company dedicated to the exploration and development of gold deposits, with operations in Sonora, Mexico. The transaction amount was USD $4.7 million.

U.S.-based Holman, a provider of fleet-management services and corporate-mobility solutions, reached a definitive agreement to acquire ARIZA, a Mexican company specializing in vehicle leasing and fleet management, headquartered in Naucalpan de Juárez, Estado de México. The transaction amount was not disclosed.

Mexico's Tutsi Pop, a manufacturer and marketer of candy and confectionery products, reached a definitive agreement to acquire KlassCo, a Mexican producer of powdered beverages, candy and other food products, based in Tepotzotlán, Estado de México. The transaction amount was not disclosed.

An undisclosed buyer reached a definitive agreement to acquire Merited, a Mexican platform dedicated to the administration and operation of private educational institutions, based in Mexico City. The transaction amount was not disclosed.

An undisclosed buyer reached a definitive agreement to acquire Perforaciones Estratégicas e Integrales Mexicana, a subsidiary of Borr Drilling (NYSE: BORR) and a Mexican provider of drilling and technical-assistance services for the energy industry, based in Mexico City. The transaction amount was not disclosed.

U.S.-based Ferrara, a manufacturer and marketer of confectionery and consumer food products, reached a definitive agreement to acquire NotCo AI's Brazilian operations, a business dedicated to the production of dairy alternatives and food products, based in Brazil. The transaction amount was not disclosed.

Wiztech Group and Dreidel Interactive, companies specialized in technology and content development for online casino games, formed a joint venture focused on the distribution of digital games developed for the Mexican market. The transaction amount was not disclosed.

Mexico's Kapital Bank, a financial and banking services platform focused on digital solutions for businesses, based in Mexico City, closed a venture capital financing round in the amount of USD $125 million. The investment included the participation of Tru Arrow Partners, Overlook Capital, Niya Partners, Cervin Ventures and Fasanara Capital.

U.S.-based Wint, a developer of artificial intelligence solutions for water management and leak prevention, based in New York, closed a venture capital financing round (Series D) in the amount of USD $36 million. The investment was led by Mexico's LIP Ventures and Inven Capital.

Chile's Magnar, an artificial intelligence platform focused on legal analysis and legal document management, based in Providencia, Chile, closed a venture capital financing round (Series A) in the amount of USD $8 million. The investment was led by 6 Degrees Capital and Mexico's Hi Ventures, with the participation of Fen Ventures, Platanus Ventures, Punto Cero Ventures, Nascent Ventures, GG Capital and other investors.

U.S.-based Konko AI, a technology platform focused on business-process automation and customer care for clinics and healthcare companies, headquartered in New York, closed a venture capital funding round in the amount of USD $6 million. The investment included participation from Mexico's Hi Ventures, as well as SquareOne Capital, Groundupp Ventures, Phoenix Investment Club and LifeX Ventures.

Mexico's Sarelly, a fashion brand focused on handbags, jewelry, leather accessories and apparel, headquartered in Mexico City, closed a venture capital funding round in the amount of USD $3 million. The investment was led by Sandbox Studios and Mexico's Wollef, with participation from Silas Capital, Siddhi Capital, Pentland Ventures, Scoop Ventures, SuperAngel.Fund and Gaingels.

Argentina's Uin, a technology platform focused on gamification and user-loyalty solutions for businesses, headquartered in Buenos Aires, closed a seed venture capital funding round in the amount of USD $2 million. The investment was led by EWA Capital, with participation from Mexican investors Angel Hub, Guadalajara Angel Investor Network and New Ventures Capital, as well as Ferter, Driven Ventures, ADN VC, B Venture Capital and other investors.

Mexico's OrderEAT, a digital platform focused on the management of school and university cafeterias, headquartered in Mexico City, closed a venture capital funding round in the amount of USD $2 million. The investment included participation from Seedstars International Ventures, Chile Ventures, Driven Ventures and Add Ventures.

Tenoro, a technology platform focused on the automation of logistics operations and supply chains through artificial intelligence, closed a seed venture capital funding round in the amount of USD $1.96 million. The investment included participation from Bynd Venture Capital, Plus Partners VC and Soldiers Field Angels.

U.S.-based Blinka, a technology platform focused on the automation of credit origination and underwriting processes through artificial intelligence, headquartered in San Francisco, California, closed a Series 1 venture capital funding round in the amount of USD $1.5 million. The investment included participation from Antler, Mexico's Nascent and Y Combinator.

Mexico's Zumma, a technology platform focused on the automation of financial and administrative processes through artificial intelligence, headquartered in Mexico City, closed a venture capital funding round in the amount of USD $1.3 million. The investment was led by Mexico's Wollef, with participation from Ferter, Outside VC, Alamo Angels, Epic Angels, Addem Capital and other investors.

Mexico's Wertek AI, a technology platform focused on artificial intelligence for industrial asset maintenance and management, headquartered in San Pedro Garza García, Nuevo León, closed a venture capital funding round for an undisclosed amount. The investment included participation from Loyal VC.

An investor group led by Vinod Khosla, with the participation of Mexican entrepreneurs María Asunción Aramburuzabala and Gonzalo Hevia Baillères, as well as Tresalia Capital, Dynasty Equity, Sixth Street Partners, The Carlyle Group and other investors, reached a definitive agreement to acquire Seattle Seahawks, a U.S. professional American football franchise competing in the National Football League (NFL), through a leveraged buyout (LBO). The transaction amount was USD $9,612 million.

Mexico's BBVA México, a financial institution focused on commercial, corporate, investment and wealth-management banking services, headquartered in Mexico City, received debt financing in the amount of USD $1,000 million.

Mexico's Coppel, a department-store chain focused on the commercialization of consumer products and financial services, headquartered in Culiacán, Sinaloa, received debt financing in an approximate amount of USD $292 million. The proceeds will be used to drive the adoption of clean energy and the electrification of its vehicle fleet.

U.S.-based private-equity firm Riverstone Holdings, specialized in energy, infrastructure and energy-transition investments, reached a definitive agreement to acquire a 68 MWp solar project in Aguascalientes, Mexico, owned by BlackRock, with an estimated annual generation capacity of 145 GWh, through a leveraged buyout (LBO). The transaction amount was not disclosed.

U.K.-based Froneri International, a manufacturer and distributor of ice cream and frozen products backed by PAI Partners, Patria Private Equity Trust, Abu Dhabi Investment Authority, British Columbia Investment Management and Goldman Sachs Asset Management, reached a definitive agreement to acquire the Helados Nestlé en México business, a subsidiary of Grupo Herdez dedicated to the production and commercialization of ice cream, through a leveraged buyout (LBO). The transaction amount was not disclosed.

U.S.-based Cloud5 Communications, a technology-solutions provider for the hospitality industry backed by Oaktree Capital Management, reached a definitive agreement to acquire InterTouch CALA, a division specialized in connectivity, digital entertainment and technology services for hotels, with operations in Mexico, through a leveraged buyout (LBO). The transaction amount was not disclosed.

Investment firm Grupo Pegasus reached a definitive agreement to acquire Residencia Villazul, a Mexican company specialized in residential services and comprehensive care for senior adults, headquartered in Mexico City, through a leveraged buyout (LBO). The transaction amount was not disclosed.

Mexico's Banco Nacional de México (Banamex), a financial institution focused on commercial, wealth-management and investment banking services, headquartered in Mexico City, filed a request to conduct an initial public offering (IPO) in 2027 for an estimated amount of USD $3,000 million.

CFE (MEX: CFE) completed the placement of long-term market securities (certificados bursátiles) in the amount of MXN $22,150 million on the Bolsa Mexicana de Valores (BMV), with Banorte, BBVA, Santander and Inverlat acting as placement intermediaries.

Grupo Lala (MEX: ALAC) completed the placement of long-term market securities (certificados bursátiles) in the amount of MXN $9,000 million on the Bolsa Mexicana de Valores (BMV), with BBVA, Santander and Inverlat acting as placement intermediaries.

GM Financial (MEX: GMFIN) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $6,822 million on the Bolsa Mexicana de Valores (BMV), with Inverlat and Banorte acting as placement intermediaries.

Bladex (MEX: BLADEX) completed the placement of long-term market securities (certificados bursátiles) in the amount of MXN $6,443 million on the Bolsa Mexicana de Valores (BMV), with BBVA and Santander acting as placement intermediaries.

Afirme Almacenadora (MEX: ALMER) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $4,725 million on the Bolsa Mexicana de Valores (BMV), with Casa de Bolsa Base acting as placement intermediary.

Volkswagen Leasing (MEX: VWLEASE) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $3,238 million on the Bolsa Mexicana de Valores (BMV), with BBVA and Inverlat acting as placement intermediaries.

Ford Credit (MEX: FORD) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $2,625 million on the Bolsa Mexicana de Valores (BMV), with Inverlat and Banorte acting as placement intermediaries.

Start Banregio (MEX: START) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $2,605 million on the Bolsa Mexicana de Valores (BMV), with Actinver Casa de Bolsa acting as placement intermediary.

Toyota Financial Services (MEX: TOYOTA) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $1,823 million on the Bolsa Mexicana de Valores (BMV), through BBVA and Inverlat as placement intermediaries.

NR Finance (MEX: NRF) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $1,637 million on the Bolsa Mexicana de Valores (BMV), through BBVA as placement intermediary.

Financiera Bepensa (MEX: FINBE) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $700 million on the Bolsa Mexicana de Valores (BMV), through Actinver, Banorte and Kapital as placement intermediaries.

Factoring Corporativo (MEX: FACTOR) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $500 million on the Bolsa Mexicana de Valores (BMV), through GBM and Banorte as placement intermediaries.

Actinver (MEX: ARREACT) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $400 million on the Bolsa Mexicana de Valores (BMV), through Actinver Casa de Bolsa as placement intermediary.

Paccar Financial (MEX: PCARFM) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $223 million on the Bolsa Mexicana de Valores (BMV), through Scotiabank as placement intermediary.

Grupo Minsa (MEX: MINSA) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $150 million on the Bolsa Mexicana de Valores (BMV), through Actinver and Banorte as placement intermediaries.

Montepío Luz Saviñón (MEX: MONTPIO) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $150 million on the Bolsa Mexicana de Valores (BMV), through Actinver and Banorte as placement intermediaries.

Almacenadora Mercader (MEX: ALMER) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $150 million on the Bolsa Mexicana de Valores (BMV), through Banorte, Actinver and Kapital as placement intermediaries.

Grupo Engencap (MEX: ENGEN) completed the placement of short-term market securities (certificados bursátiles) in the amount of MXN $144 million on the Bolsa Mexicana de Valores (BMV), through Actinver, Banorte and Kapital as placement intermediaries.