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| A billboard in Mexico City depicting Donald Trump |
It was a gloomy time for Mexican M&A advisers. Donald Trump had just been elected president of the US on the back of repeated threats about how he was going to scrap the North America Free Trade Agreement and slap hefty import tariffs on Mexican goods. The peso was plummeting and dealmakers were fretting that acquisitions might come unstuck.
Mars’ purchase of Mexican chocolate maker Turin, for instance, had almost collapsed because of the impact of the peso’s decline months before Trump had even been elected, according to a person familiar with the deal.
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