Peru hosted three of the five largest corporate acquisitions in Latin America in 2014, the Economic Commission for Latin America and the Caribbean (ECLAC) said its latest report “Foreign Direct Investment in Latin America and the Caribbean”.
Since such acquisitions were ultimately transfers of ownership between foreign companies, they had no net effect on Foreign Direct Investment (FDI) flows.
The report states that two Chinese companies increased their footprint in Peru: China Minmetals Corporation and China National Petroleum Corporation (CNPC).
“Minmetals bought the Bambas copper mine from Glencore Xstrata of Switzerland, for a total of US$ 7.005 billion and the China National Petroleum Corporation (CNCP) acquired the assets of Brazil’s Petrobras Energia Peru in for US$ 2.6 billion,” the document reads.
The acquisition of Las Bambas is considered to be the most important in the list of 20 largest mergers or acquisitions 2014, while CNCP is placed fifth.
The third most important operation involves Royal Dutch Shell (the Netherlands, United Kingdom), which acquired Repsol liquefied natural gas portfolio worth US$4.1 billion.
(END) JCC/JJN/RMB
Published: 5/28/2015