According to PWC, 61% of buyers were foreigners, a proportion that was not observed since the years of the Government of Mauricio Macri and almost half of them was the first time in the country.
Although in the first six months of the year there were changes in the exchange market, the merger and acquisition market (M&A) in Argentina showed signs of solidity and dynamism. This is revealed by the last report of the PWC Argentina Deals, which recorded 38 transactions for a total value of US $ 4,080 million in the first semester of 2025.
Although the volume and amount of operations show a 20% drop compared to the historical record reached in the second semester of 2024, the general performance remains at high levels. The report emphasizes that a High value operations tendencyin a context where the participation of international investors charges a renewed prominence.
According to PWC, the 61% of buyers were foreignersa proportion that was not observed since the years of the Government of Mauricio Macri. A relevant fact: Almost half of them landed for the first time in the country, while the rest already had previous local operations or presence. This behavior is aligned with a climate of greater confidence in medium -term perspectivesencouraged by signs of macroeconomic stabilization and strategic opportunities in key sectors.
Screen capture 2025-07-27 164044
Dynamic sectors and diversification in operations
Sector analysis confirms that Energy & Resources and TMT (technology, media and telecommunications) They concentrated 50% of the operations. It was followed by traditional weights as Food & agro, industry & construction and financial services. However, a Diversification trendwith more than 25% of the agreements concentrated in sectors such as logistics, consumption, retail and real estate.
Among the most significant operations of the period are:
-
The acquisition of assets of Petronas E & P Argentina in Vaca Muerta by Vistafor an amount of US1.5 billion.
-
The purchase of Telefónica Argentina by Telecomfor US $1,245 million.
-
The control of the 70% adecoagro by Tetherthe stablecoin USDT issuer, in its regional landing in real assets.
Lower output of multinationals and growth perspectives
Another relevant fact of the report is marked decrease in multinational companies of the country. In the first semester of 2025 there were barely four casescompared to the twelve of 2024 and well below the annual average of the last five years, which several times exceeded 15 operations. Since 2020 more than 80 outputs were recorded, but the recent decline reflects a lower risk environment and greater macroeconomic predictabilitywhich begins to stop foreign divestment.
“The M&A market demonstrated resilience, with high value operations that reflect confidence in the country’s economic projection,” he said Ignacio AquinoPWC Argentina partner. “From 2024 we observe a rebound from Mega Deals Above US $ 1 billion, something that has not happened since 2010, and that we project will be consolidated in the coming years as the stabilization and opening of the economy progresses, ”he added.
For its part, Juan Tripierdirector of the firm, said the inflation projections below 20% by 2026the eventual liberalization of the exchange rate and one Greater credit availability They configure a conducive scenario for companies to prepare their strategic movements. “Those who begin in 2025 ordering and adaptation processes will be better positioned to close relevant transactions during the next cycle,” he explained.
Screen capture 2025-07-27 164056
Factors that will boost the activity in the medium term
The report identifies several engines that will continue to drive M&A activity in the next 18 months:
-
Greater access to financingwith lower costs and extended deadlines.
-
Announced privatization processeswhich will include companies such as AYSA, Argentine Nucleotic, Argentine Energy Assets (such as its participation in Transener) and the road network of Road runners.
-
Better valuation conditionsthanks to the reduction of the exchange gap and the stabilization of the country risk, currently around 700 basic pointswith prospects of continuing in descent.
Source: Ambito
I am a 24-year-old writer and journalist who has been working in the news industry for the past two years. I write primarily about market news, so if you’re looking for insights into what’s going on in the stock market or economic indicators, you’ve come to the right place. I also dabble in writing articles on lifestyle trends and pop culture news.
