April and May slowed M&A in South America to a standstill. Outside of Brazil, (for M&A trends in Brazil, see Deal Drivers: Brazil) South America recorded just eight deals in April and only one in May. With countries across the continent largely in lockdown, economic activity slowed significantly and practical difficulties such as restrictions on travel and meetings represented basic obstacles to dealmaking.
The months ahead may be uncertain, but we can still see some bright spots through the fog.
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