{"id":98161,"date":"2026-04-08T20:01:55","date_gmt":"2026-04-08T23:01:55","guid":{"rendered":"https:\/\/murray.adv.br\/?p=98161"},"modified":"2026-04-08T20:01:55","modified_gmt":"2026-04-08T23:01:55","slug":"brazils-ma-has-best-quarter-since-2021-as-foreigners-return","status":"publish","type":"post","link":"https:\/\/murray.adv.br\/en\/brazils-ma-has-best-quarter-since-2021-as-foreigners-return\/","title":{"rendered":"Brazil\u2019s M&A has best quarter since 2021 as foreigners return"},"content":{"rendered":"
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Big-ticket deals lift first-quarter value 30% as companies race to close transactions before the presidential election cycle adds uncertainty<\/strong><\/em><\/h6>\n<\/div>\n<\/div>\n
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Brazil\u2019s mergers and acquisitions market regained momentum in the first quarter of 2026, helped by large deals and a push by companies to wrap up transactions before the election period intensifies.<\/p>\n<\/div>\n

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A survey by Seneca Evercore covering January through March shows that deals totaled $15.9 billion, up 30% from the same period last year. It was the strongest first quarter since 2021.<\/p>\n<\/div>\n

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The recovery, however, came with fewer transactions. There were 153 deals in the quarter, down from 198 a year earlier, a sign that activity has picked up again on the back of larger transactions.<\/p>\n<\/div>\n

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Two deals accounted for a meaningful share of the total volume: the combination of\u00a0Odontoprev, a Brazilian dental plans company, and Bradesco Sa\u00fade<\/a>, Bradesco\u2019s health insurance arm, estimated at $5.8 billion;\u00a0and the $1.9 billion sale of Companhia Brasileira de Alum\u00ednio (CBA),<\/a> the Brazilian aluminum producer owned by Votorantim, to China\u2019s Chinalco and Anglo-Australian mining company Rio Tinto.<\/p>\n<\/div>\n

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For Daniel Wainstein, a partner at Seneca Evercore, the trend points to a revival in M&A after two weaker years. \u201cMany transactions that had been put on hold last year came back at the start of this year.\u201d<\/p>\n<\/div>\n

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He said companies and investors are trying to take advantage of a more predictable environment in the first half to complete deals before conditions potentially become more unstable in the second half because of the presidential election. In 2025, Brazil\u2019s M&A market totaled $58.4 billion.<\/p>\n<\/div>\n

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Political uncertainty remains one of the main obstacles to this type of transaction, he said. \u201cWhat the market needs is less uncertainty. As polls define the landscape, it becomes easier to price assets because volatility declines,\u201d he said. His expectation is that, once the election picture becomes clearer, negotiations will move more smoothly.<\/p>\n<\/div>\n

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Foreign interest returns<\/strong><\/p>\n<\/div>\n

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At the same time, there are signs that foreign appetite is improving. Overseas investors, especially Americans, have started paying closer attention to Brazil again.<\/p>\n<\/div>\n

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\u201cWith China off the current U.S. strategic map and India already saturated with investment, Brazil is the main \u2018third way\u2019 among large-scale emerging markets,\u201d Wainstein said.<\/p>\n<\/div>\n

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That interest has focused on sectors such as financial services, renewable energy and technology. In finance, changes are underway as independent platforms expand in wealth management, insurance and lending.<\/p>\n<\/div>\n

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\u201cThere is a real revolution in the sector,\u201d he said. In his view, that shift is creating room both for fresh investment and for mergers among smaller companies.<\/p>\n<\/div>\n

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Longer-term funding<\/strong><\/p>\n<\/div>\n

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Credit conditions have also supported the trend. Brazilian companies have been extending their debt maturities, replacing short-term loans with longer-term funding raised in the capital markets.<\/p>\n<\/div>\n

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For Wainstein, that lengthening of debt profiles allows companies to pursue investment plans with less pressure on cash generation, creating value for shareholders.<\/p>\n<\/div>\n

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With more investors active in the market, companies with stronger capital structures have been taking advantage of the moment to consolidate fragmented industries.<\/p>\n<\/div>\n

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\u201cThe opportunity to finance this through long-term instruments changes the game significantly,\u201d he said.<\/p>\n<\/div>\n

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By sector, technology led deal volume in the quarter with 18%, followed by consumer and retail at 15% and financial institutions at 14%. In addition to the large healthcare and mining deals, the report points to transactions in telecommunications involving IHS Towers and Desktop, and in energy involving Wilson Sons and Petrobras assets.<\/p>\n<\/div>\n

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Wainstein expects the pace to continue in the second quarter. \u201cThe trend is for the recovery to continue compared with 2024 and 2025,\u201d he said.<\/p>\n<\/div>\n

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The prospect of lower long-term interest rates remains a tailwind, especially for companies that depend more on growth than on heavy investment in physical assets, such as technology and education businesses.<\/p>\n

*By\u00a0Vit\u00f3ria Nascimento\u00a0and\u00a0M\u00f4nica Scaramuzzo\u00a0\u2014 S\u00e3o Paulo<\/p>\n

Source: Valor International<\/p>\n

https:\/\/valorinternational.globo.com\/<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/article>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Big-ticket deals lift first-quarter value 30% as companies race to close transactions before the presidential election cycle adds uncertainty     04\/08\/2026\u00a0 Brazil\u2019s mergers and acquisitions market regained momentum in the first quarter of 2026, helped by large deals and a push by companies to wrap up transactions before the election period intensifies. A survey […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8106],"tags":[26855,26854],"class_list":["post-98161","post","type-post","status-publish","format-standard","hentry","category-murray-news","tag-as-foreigners-return","tag-brazils-ma-has-best-quarter-since-2021"],"yoast_head":"\nBrazil\u2019s M&A has best quarter since 2021 as foreigners return - Murray Advogados<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/murray.adv.br\/en\/brazils-ma-has-best-quarter-since-2021-as-foreigners-return\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Brazil\u2019s M&A has best quarter since 2021 as foreigners return - Murray Advogados\" \/>\n<meta property=\"og:description\" content=\"Big-ticket deals lift first-quarter value 30% as companies race to close transactions before the presidential election cycle adds uncertainty     04\/08\/2026\u00a0 Brazil\u2019s mergers and acquisitions market regained momentum in the first quarter of 2026, helped by large deals and a push by companies to wrap up transactions before the election period intensifies. 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