Mainland organisations have spent US$11.9 billion on mergers and acquisitions in Brazil this year, the Financial Times has reported.

The newspaper cites Dealogic data to suggest that merger and acquisition activity in Brazil is the highest since 2010, the newspaper reports.

The investments have been concentrated in the utilities sector, as well as the food and beverage, and transport industries.

Meanwhile, the details of a US$20-billion China-Brazil investment fund are currently being finalised, after it was first proposed during Premier Li Keqiang’s tour of Latin America last year.

Renewable energy generation projects, logistics and high-end manufacturing will be the fund’s likely targets, the newspaper says.