Latin America M&A capital up 47% through April 2026
Latin America’s M&A market recorded 685 transactions — both announced and closed — totaling USD 35.852 billion through April 2026, representing a 47% increase in capital mobilized year-on-year, despite a 32% decline in deal volume, according to TTR Data’s latest report.
In April alone, 146 transactions were registered for an aggregate value of USD 8.370 billion. Brazil continued to lead the regional ranking by deal volume with 374 transactions, reflecting a 38% decline in number but a 109% surge in capital mobilized (USD 23.907 billion). Chile followed with 114 transactions, down 8% in volume and 17% in value (USD 1.964 billion).
Argentina recorded 84 transactions, a 9% decline in volume and a 12% drop in capital mobilized (USD 2.777 billion). Mexico climbed one position in the ranking with 81 transactions and a 233% increase in deal value (USD 8.615 billion), joining Brazil, Colombia, and Peru as the only countries posting positive results in capital mobilized. Colombia registered 63 transactions, down 34% in volume, but with a 60% increase in capital mobilized (USD 6.262 billion). Peru recorded 34 transactions, a 31% decline in volume, but a 477% surge in value (USD 3.583 billion).
In the cross-border segment, Latin American companies showed a notable appetite for investments in Europe and North America, completing 30 and 17 transactions, respectively in those regions during April. Conversely, the most active foreign acquirers in Latin America came from North America and Europe, with 105 and 93 deals, respectively.
Through April 2026, private equity activity totaled 46 transactions worth USD 8.727 billion, reflecting a 10% decline in deal count but a 181% increase in capital mobilized year-on-year. The venture capital segment recorded 99 transactions for USD 1.646 billion in the first four months of the year, down 50% in volume but up 3% in value. Asset acquisitions reached 175 transactions valued at USD 5.772 billion, a 2% decline in volume but a 46% increase in value compared to the same period in 2025.
Deal of the month: Cox acquires Iberdrola México
TTR Data selected the acquisition of Iberdrola México by Cox ABG Group — a Seville-based company focused on designing and building water and renewable energy infrastructure — for USD 4.170 billion as the standout transaction of the month.
The transaction was advised legally by PwC Legal México, DLA Piper, Cox ABG Group’s in-house team, PwC Tax & Legal España, and Baker McKenzie. Financial advisory was provided by PwC España, Bank of America, BofA Securities, Barclays Bank, and Santander Corporate & Investment Banking (SCIB). Due diligence was also handled by PwC España.
