Billion-Dollar Transactions Drive Latin America’s 2025 M&A Boom

Latin America 2025 deals are gaining global attention as Brazil, Mexico, and Argentina lead a wave of billion-dollar transactions across energy, consumer goods, and media. But while headlines highlight capital and corporate growth, it’s the legal teams behind these deals that are quietly driving cross-border success.

From energy and infrastructure to consumer goods and streaming media, Brazil, Mexico, and Argentina are leading a new wave of billion-dollar deals in 2025. Behind the headlines, legal teams are orchestrating the complexity—structuring, negotiating, and closing transactions that span currencies, borders, and regulators.

This breakdown highlights both the companies executing strategic deals and the law firms guiding them.

🇧🇷 Brazil: Nestlé’s Strategic Role in 2025 LATAM Transactions

Nestlé is the world’s largest food and beverage company, with a presence in 186 countries and over 2,000 brands—including Nescafé, KitKat, Purina, and Nespresso. In Brazil, it’s a legacy player across dairy, coffee, pet food, and nutrition.

The Deal:
As part of a wave of Latin America 2025 deals, Nestlé announced a R$7 billion (~US$1.27 billion) investment through 2028 focused on:

• Energy transition through a joint venture with Enel Brasil
• Support for Brazilian agricultural supply chains (milk, cocoa, coffee)
• Industrial R&D upgrades and local brand expansion

Legal Advisors:

• Tauil & Chequer Advogados (in association with Mayer Brown)
  • Lead partners: Victor Galante and Débora Yanasse
  • Energy and tax team: Lucas Zamproni, Gabriela Jansen, Caio Souza, Raphael Furtado, Isabella Giorgi

🇲🇽 Mexico: Fox Enters Sports Streaming with Caliente TV

Fox Corporation is a U.S. mass media company behind FOX News, FOX Sports, and one of the most-watched national broadcast networks.
Caliente TV is a sports-focused broadcaster owned by Grupo Caliente, a major player in betting and live events in Mexico.

The Deal:
Fox acquired Caliente TV to:

• Secure rights to UEFA Champions League, Ligue 1, and Liga MX
• Launch a new sports SVOD platform for Latin America
• Build regional production hubs and create over 350 jobs

Legal Advisors:

• Legal counsel has not yet been disclosed by the time of this publication. Mexican regulatory review is underway.

🇦🇷 Argentina: Vista Energy Acquires Petronas Argentina as One of this Southern Latin America 2025 deals

Vista Energy is one of the largest shale-focused oil companies in Latin America, with significant assets in the Vaca Muerta region.
Petronas Argentina is the local subsidiary of Malaysia’s national energy company, formerly in a joint venture with Argentina’s YPF.

The Deal:
Vista Energy acquired 100% of Petronas Argentina for US$1.2 billion, securing:

• 50% stakes in Aguada Federal and Bandurria Norte
• Operational control in Argentina’s Neuquén Basin
• A payment structure including US$900M cash, US$300M deferred, and 7.3M shares

Legal Advisors:

• Buyer – Vista Energy:
  • Bruchou & Funes de Rioja – Partner: Nicolás Dulce
  • Clifford Chance LLP
    • NY & London team: David Brinton, Carla Ruggero, Steven Fox
  • Cleary Gottlieb Steen & Hamilton LLP – structured financing and U.S. compliance
• Seller – Petronas:
  • Mayer Brown LLP – Partner: Pablo C. Ferrante
• Lender Counsel – Banco Santander (loan to Vista):
  • Cleary Gottlieb and Linklaters LLP

Final Take: Legal Architects of Latin America 2025 Deals Resurgence

These billion-dollar transactions reflect more than market optimism—they highlight the necessity of precision legal execution. From Nestlé’s energy partnerships in Brazil to Vista’s consolidation of shale assets in Argentina, law firms are driving the terms that make these deals possible.

With Latin America back on the radar, top-tier firms like Bruchou, Clifford Chance, Mayer Brown, and Tauil & Chequer are proving that smart legal structuring is the foundation of smart investment.

Note should also be given to other key U.S.-based international law firms that continue to play a strategic role in supporting mega-deals across Latin America. These include firms such as Foley & Lardner LLP, Wilson Sonsini Goodrich & Rosati, Morrison Foerster (MoFo), Gunderson Dettmer, and Paul, Weiss, Rifkind, Wharton & Garrison LLP.