Basham Assists Grupo Carso in Full Acquisition of PetroBal
May, 2024 - Mexico
COMPETITION & ANTITRUSTDEAL & TRANSACTIONS
8 May 2024- The Latin American Lawyer
Basham Ringe y Correa has assisted Grupo Carso in the clearance before the Comisión Federal de Competencia Económica (COFECE) of the acquisition, by one of its subsidiaries, of the entire share capital of PetroBal Operaciones Upstream and its subsidiaries.
PetroBal Operaciones is a subsidiary of Grupo Bal, through which it currently holds a 50 per cent interest in the exploitation of the Ichalkil and Pokoch oil fields, located off the coast of Campeche (Contract Area 4). As a result of the deal, Grupo Carso will participate in the exploitation of these oil fields.
According to the National Hydrocarbons Commission, Ichalkil and Pokoch together produce around 12,000 barrels of oil per day. The deal is worth approximately 530 million dollars.
With this acquisition, Grupo Carso continues to consolidate its participation in the exploration and production of hydrocarbons in Mexico.
Basham’s team was led by partnerAmílcar Peredo and senior associateLeón Jiménezfrom the firm’s antitrust practice in Mexico City.
