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Awards

Deals of the Year 2012: UnitedHealth Group

UnitedHealth Group (US)
Target Brazil’s Amil Participações (90%) (Brazil)
Date announced October 8
Size $4.9 billion
Advisers to target Credit Suisse
Advisers to acquirer JPMorgan
return to the Latin America Deals of the Year index

The otherwise patchy equity markets added impetus to M&A throughout the region. There were many large, transformative, cross-border deals in Latin America in 2012 but the standout one – and the fourth deal of the year was UnitedHealth Group’s acquisition of 90% of Brazil’s Amil Participações. The deal was the largest-ever cross-border acquisition of a Brazilian asset, with the US company paying $4.9 billion for its majority stake. It is transformative in the burgeoning healthcare sector and the deal also came in the middle of the year when Brazil’s slowing macroeconomy was beginning to lead to questions about the pricing of Brazilian assets. The deal demonstrates the premium that solid Brazilian companies can still attract – giving a boost to the entire M&A sector in the region’s largest economy.

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