A total of 35 Mergers & Acquisitions (M&A) deals (pending and completed) were announced in the Financial Services of the South and Central America region, in the last twelve months resulting in a total deal value of over $16,405.2 million. In the LTM period, October 2021 turned out to be the most prolific in terms of deal size, with a total deal value of $9,120.4 million, resulting in an average deal value of $3,040.1 million during that month. On the other hand, the month of February 2022 was the most prolific in terms of deal volume, recording a total of 6 deals, resulting in an average deal value of $687.5 million during that month.
Of the 35 deals, the deal secured between Covea Mutual Insurance Group Co and PartnerRe Ltd., was the largest M&A deal in the South and Central America Financial Services sector, which was valued at $9,000.0 million and was completed on October 28, 2021. The second-largest deal was between Rede D'Or Sao Luiz SA and Sul America SA, while the third-largest deal was between The Bank of Nova Scotia and Scotiabank Chile. The Rede D'Or Sao Luiz SA-Sul America SA deal and the The Bank of Nova Scotia-Scotiabank Chile deal were valued at $2,600.0 million and $1,023.1 million, respectively. The fourth-largest deal was between Brickell Insurance Holdings LLC-Randall & Quilter Investment Holdings Ltd valued at $632.4 million, whereas the deal between Itau Corpbanca-Itau CorpBanca Colombia SA valued at $414.0 million was the fifth-largest deal.
Cumulatively, the top five deals amounted to $13,669.5 million and accounted for nearly 83.32% of the total deals (by value) announced during the last twelve months. The South and Central America region accounted for 3.40% of the total M&A deals done globally, and accounted for 0.41% of the total deal size on a global scale.
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