TTR In The Press
Despegar.com acquisition of Best Day Travel Group is the deal of the month in Mexico
Operations in Mexico have decreased by almost 8% year to date, and the total aggregate value over 16%
According to Transactional Track Record (TTR) platform, the number of operations in Mexico year to date decreased 8% compared to 2019. The total number of deals was 236 and hardly might reach 323 as the past year. Interpreting this just as a collateral cause of the COVID pandemics might be wrong. 2019 closed too with a decrease of 9% regarding 2018. It seems like the Mexican market is evolving into a less and more significant transactions scenario.
The figures onto the total aggregate value offer an exciting paradox, no matter the fact that year to date the amount decreased over 16% regarding 2019, this decrease seems less relevant than the one produced in 2018, a year when the aggregate value of transaction dropped almost a 50% regarding 2017.
The United States keeps is position as the origin of most of the investments in México and the main target of the Mexicans investors. However, Spain, having a little fewer transactions tan the USA as aim for the Mexican investments, received a larger amount in the aggregate value of them. $1038 million to Spain instead of the $910 million to the USA.
The deal of the month was the acquisition of Best Day Travel Group by Despegar.com. The total amount of the transaction was $136 million. Creel, García-Cuéllar, Aiza y Enríquez were the firm responsible for assisting Despegar.com, with a team led by partner Humberto Botti O. (pictured), and which involved associates Gerardo Zimbrón Santamaría and Rodrigo Macías Peña Medrano, and lawyer Mariana Veytia Valencia.
Simpson Thacher & Bartlett US acted as global counsel of Despegar.com. Galicia Abogados in Mexico and Cleary Gottlieb Steen & Hamilton US globally assisted the private shareholders who sold their share.
Source: Iberian Lawyer - Spain