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By: Iberian Lawyer
Argentina offers the best growth opportunities of all the Mercosur countries, according to a new study by The Latin American Lawyer, with significant activity expected in the country's banking, finance and capital markets sectors.
A survey of lawyers in the Mercosur countries (Argentina, Brazil, Paraguay, Uruguay, Venezuela and Bolivia as an accession country) found that 55 per cent identified Argentina as having the best opportunities for growth. Around one in four respondents (27 per cent) said Brazil had the most promising prospects, while 15 per cent thought Paraguay led the way when it came to growth potential.
Confidence in Argentina is on the increase after the country reached a settlement with its "holdout creditors" that allowed it to return to international markets – in April, Argentina issued US$16.5 billion worth of sovereign debt. Meanwhile, it is also anticipated that the new government will take further measures to reduce inflation and the government's budget deficit. This new-found confidence is backed up by M&A data. Two of the ten largest transactions in the Mercosur countries in the first quarter of 2016 took place in Argentina, according to Mergermarket, with Pampa Energia acquiring Petrobras' Argentinean assets for $765 million, and the energy companies Empresa Distribuidora de Energia Norte and Empresa Distribuidora de Energia Sur being sold to a private investor for $220 million.
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