The number of mergers and acquisitions in the oil and gas sector increased 200% in the first quarter of this year compared to the same period in 2017. There were 24 transactions this year against eight in the same period last year. It is the best result for a quarter since 2015, according to KPMG.
Of the 24 operations carried out this year, 20 were carried out by foreigners buying Brazilian companies. The other four are domestic transactions between Brazilian companies.
“This increase is a reflection of the last auctions held by the ANP at the end of last year, which attracted many domestic and foreign players,” analyzes Paulo Guilherme Coimbra, a partner at KPMG.
Source: Brazil Energy