No country has done more acquisitions in Brazil this year than China, which grabbed the No. 1 ranking by deal value for the first time on record, according to data compiled by Bloomberg. Chinese firms have announced $4 billion of purchases in Brazil so far this year, the highest total for a comparable period since 2010.
Latin America’s biggest economy has turned into a fertile hunting ground for Chinese acquirers, as Brazilian firms look for suitors to help them ride out the nation’s longest recession in decades. A 50 percent drop in the real over the past five years has increased Chinese firms’ buying power, while political opposition to takeovers is proving a smaller hurdle than in the U.S. and U.K.