In the first half of 2026, M&A activity in Brazil registered 421 transactions, reflecting a 33.5% decrease compared with the same period of 2025, when 633 transactions were recorded. Despite the moderation in deal volume, activity remained concentrated in technology (software/IT), financial services, energy, services, logistics and transportation, agriculture, food and beverages, and retail. Looking ahead, increased investor attention is expected in sectors such as mining (including traditional industries and new materials), renewable energy and energy transition–related assets, environmental management, infrastructure (including concessions/privatizations), and water/sewage and logistics.
Inflation (measured by the Broad Consumer Price Index/IPCA) accumulated 3.5% over the first half of the year, while the Central Bank of Brazil (BACEN) lowered the benchmark SELIC rate to 14.25%. During the same period, the Brazilian real appreciated 6.2% against the U.S. dollar, reflecting improved market sentiment and currency strength.
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