August 2025 top M&A deals in emerging markets by region

Eastern Europe

UK-based private equity firm Montagu agreed to acquire Polish digital retail solutions provider IAI Group from MCI Capital and  IAI founders for at an enterprise value of EUR 222.5mn. The transaction is part of Montagu’s strategy to strengthen its presence in the digital infrastructure sector. IAI Group is known for its IdoSell, AtomStore and Shoprenter brands, serves  ~7,000 stores in Poland and ~6,000 in Hungary.

 

Latin America and the Caribbean

Chevron completed its all-stock acquisition of Hess, valued at USD 61.1bn including debt. The core motivation for the deal was Hess’s 30% interest in the prolific Guyana Stabroek Block, home to over 11bn barrels of recoverable oil equivalent - the world’s largest oil find in a decade. The Guyana assets alone are estimated by EMIS to be worth close to USD 35bn based on current production levels. Chevron also gains 463k net acres in the Bakken, Gulf of Mexico assets, and Southeast Asia gas resources. The acquisition positions Chevron for long-term growth, with Guyana expected to be a cornerstone of its global energy portfolio.

 

Emerging Asia

The largest deal in Emerging Asia involves the Southeast Asian assets of Hess, which EMIS estimates to be worth USD 7.3bn. These assets include a 50% participating interest in both Block A-18 of the Malaysia-Thailand Joint Development Area (MTJDA) and the North Malay Basin (Block PM302). Shortly after completing its acquisition of Hess, Chevron sold its stake in Block A-18 to the Thai petroleum company, PTT Exploration and Production, for a consideration of USD 450mn.

 

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