UK Corporate Acquisitions in Latin America in the 1990s: Lost Opportunities in a New Economic Environment
University of Manchester - Centre for Latin American Cultural Studies
Germano Mendes de Paula
Universidade Federal de Uberlandia
João Carlos Ferraz
UFRJ, Federal University of Rio de Janeiro
Annals of Public and Cooperative Economics, Vol. 73, pp. 577-602, 2002
During the 1990s, foreign direct investment flowed into Latin America at an unprecedented rate. Capital inflows associated with privatizations and private mergers and acquisitions (M&As) rose steeply. Drawing on original firm-level transactions data, this article examines the extent to which UK enterprises participated in the Latin American privatization and private M&A boom. The authors conclude that, relative to their counterparts in many other major industrial countries, UK enterprises adopted a cautious stance, largely eschewing privatization opportunities and concentrating M&A activities on relatively few operations, sectors and countries, in order to strengthen product and market positions. Moreover, the strategic logic guiding the most important corporate acquisitions centred on gaining access to domestic markets rather than attempting to create global export platforms.
Number of Pages in PDF File: 26Accepted Paper Series
Date posted: January 12, 2003
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