Investment Bank of the Year Colombia and Investment Bank of the Year México: Bank of America Merrill Lynch
October 31, 2019
Complex dealmaking bolstered the advisor’s standing in two countries, where it worked on eye-catching deals
Bank of America Merrill Lynch participated in some of the biggest Latin American deals of the past year. In Mexico, it advised Grupo Financiero Banorte in its $1.4 billion acquisition of Grupo Financiero Interacciones.
Not only did the deal create the second-largest bank in Mexico, it was the biggest Mexican-owned bank in a market long dominated by foreign institutions.
BAML also had to carefully piece together a transaction that involved Mexico’s influential Hank family. The deal had been rumored since 2014 when Carlos Hank González resigned as CEO of Interacciones to join the board of Banorte, where he is now chairman. At the time, González denied his move was a prelude to a merger.
Given the added scrutiny of the deal, Ricardo Fernandez, BAML’s head of investment banking in Mexico, says the transaction had to be fair to all shareholders and fully transparent.
Another notable transaction was the $1.4 billion acquisition of 80% of Enel Green Power’s wind farm in Mexico by Canada’s Caisse de dépôt et placement du Québec (CDPQ) and CKD Infraestructura México. BAML represented the buyers.
BAML also worked on two of the biggest transactions out of Colombia during the awards period.
It served as global coordinator on Grupo Energía Bogotá’s $670 million follow-on offering, the first Colombian international equity offering in four years and the largest Colombian energy and power ECM in eight years.
BAML also participated in Colombia’s $2 billion, dual-tranche bond offering in January 2019.