February 2024 top M&A deals in emerging markets by region

Emerging Europe

Yandex N.V., the Dutch parent of Russian internet group Yandex, announced it will divest its business in Russia and certain international markets to a consortium led by the closed-end mutual investment combined fund Consortium.First, managed by Solid Management of Yandex senior managers, in a RUB 475bn (USD 5.25bn) deal. The operations account for over 95% of the group’s consolidated revenues and assets. 

 

Middle East & Africa

Swiss natural gas product firm Proman, and German chemical distributor Helm raised their stake in Oman Methanol Company to 60% from 26.1% in a transaction valued at USD 347mn. The buyers used their subsidiary, Consolidated Energy Limited (CEL). Oman Methanol operates a plant in Sohar Port, Liwa, producing over 3,000 tonnes of refined methanol daily. 

 

Latin America and the Caribbean

Colombian food company Grupo Nutresa revealed that local businessman Jaime Gilinski and UAE conglomerate International Holding Company (IHC) acquired a 45.5% stake through a share swap, valued at COP 9.58tn (USD 2.4bn). Gilinski now owns 74.74% and IHC Capital Holding owns 2.16% of Nutresa. Founded in 1920, Grupo Nutresa is a consumer goods group with a brand portfolio spanning meat products, biscuits, chocolate, instant drinks, coffee, ice cream, and pasta.

 

Emerging Asia

Thai fintech firm SCB X Pcl announced the acquisition of the Vietnamese consumer financing business of point-of-sale consumer lending company Home Credit Group from Czech private equity firm PPF Group for a total of VND 21tn (USD 850.6mn). This strategic acquisition aligns with SCB X’s expansion strategy in the ASEAN market. Home Credit Vietname Finance has offered installment loans and cash loans to over 15 million customers nationwide since its inception in 2008.

By EMIS DealWatch

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