At Fusions and acquisitions in Brazil reached the highest value since 2010 in 2021, according to a report by consultancy Bain & Company released on Tuesday (8). In all, US$ 66 billion (about R$ 344 billion) were moved.
According to the study, most of this result is linked to the large volume of initial public offerings of shares (IPOs acronym in English) and a macroeconomic context that favored these operations, with a interest rate low and the dollar valued against the real.
The report points out that large transactions, with a value above BRL 10 billion, represented around 50% of the total amount handled in 2021. Most were focused on consolidation in sectors.
Among the examples that the report brings is the merger between the Hapvida and NotreDame Intermediate in the health area and the purchase of Biosev by Raizen, in the energy sector. In the transport sector, the Localiza merged with Unidaswhile in retail the Carrefour acquired the BIG group.
The number of agreements in the technology has doubled since 2016, but according to the report it amounts to about 30% of total agreements and was responsible for 5% of the total value in 2021.
The consultancy also highlights that, in 2021, the number of IPOs reached a record volume, with 46 operations, moving BRL 64 billion, a value greater than the historical maximum recorded in 2020.
According to the report, the positive scenario was influenced by macroeconomic factors in the year, with high liquidity and lower interest rates, but also by the increase in the number of investors in the Brazilian market who began to seek higher returns in the capital market.
The study points out that many Brazilian companies that carried out IPOs in 2021 reported their intention to use at least a part of the funds raised in this process to carry out acquisitions.
According to Bain & Company, this occurred in 50% of the companies, and 61% of the members of this group effectively carried out acquisition operations until the beginning of 2022. For the consultancy, this suggests that new purchases may occur throughout the year.
In addition to generating capital with IPOs that can be used for mergers and acquisitions, the consultancy cites in the report the government agenda for the sale of assets controlled by the government, citing the concessions in the sanitation area in states such as Alagoas, Amapá and Rio de Janeiro, which represented approximately R$ 30 billion.
At airport concessions totaled R$3.3 billion, while refinery sales by Petrobras moved R$ 9.1 billion.
For 2022, the consultancy highlights the privatization of Eletrobrasthe auction of eight port terminals, including in Port of Santosand new sanitation auctions.
Still for this year, the consultancy estimates that mergers and acquisitions should remain heated, but warns that the environment could be negatively impacted by global supply and demand shocks, uncertainties with the pandemic and the presidential elections and a poor macroeconomic performance of Brazil, with high interest rates and high inflation.
Globally, mergers and acquisitions also reached a record value in 2021, totaling $5.9 trillion, in a year of recovery after a poor performance in 2020, with the pandemic.
Source: CNN Brasil
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