Definition of multilatina

This term refers to Latin American companies that have outgrown their home markets and become multinational. The expansion process is often prompted after financial catastrophe elsewhere.

Chilean companies were the first to expand beyond their national market when they swooped on Argentina after their neighbour’s calamitous 2002 debt default and devaluation. Carlos Slim’s América Móvil did the same.

The global financial crisis gave the process another leg up, when many western companies had to sell-up in Latin America to rescue wobbling operations at home.


multilatina in the news

In 2015, an FT writer said Brazilian state-sponsored “national champions”, such as Vale, the iron-ore producer, and Petrobras, the state-controlled oil company, were encouraged by Brasília to go abroad, although with unhappier, often hubristic, results.

In 2015, Petrobras was engulfed in Brazil’s biggest ever corruption scandal, while Vale’s share price sunk 88 per cent since a 2008 peak. [1]

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