Friday, June 2, 2023

Carlos Gracilis obtains 49.9% of Talos Mexico for 125 million

Mexico City.- Carlos Slim has agreed to acquire 49.9 percent of the Mexican subsidiary Talos Energy for 124 million 750 thousand dollars, an operation that includes participation in the Zama megafield.

Of the aforementioned amount, 74 million 850 thousand dollars will be paid in closing the operation, the remaining 49 million 900 thousand for the first production of the Zama field.

“Zamajal, a wholly owned subsidiary of Carson, has agreed to acquire a 49.9 percent interest in Talos Mexico, which currently holds 17.4 percent of the Zama field in the Gulf of Mexico,” Talos said in a statement.

“This implies a valuation of at least 250 million dollars for a total stake of 17.4 percent in Zama, with the possibility of increasing it to 262.5 if certain objectives are met,” he explained.

The deal is expected to close by the third quarter of this year, as it is subject to regulatory approvals from the Federal Economic Competition Commission (Cofece).

Talos will remain the controlling shareholder of Talos Mexico and will cooperate in the design, engineering, construction and completion of all Zama wells, as well as the design, implementation and delivery of the infrastructure.

“We are pleased with Grupo Carso. Our relationship goes back to 2015, while the process was ordered in Mexico. Accelerating the positive reaction about our operations in Mexico, we know that Carso is the right time to partner. Carson’s investment is a reflection of the economic potential of Zama”, Timothy S. Duncan, President Talos and CEO said.

“This transaction sets a benchmark for Zama’s valuation to Talos shareholders while providing significant initial funding. Most importantly, Talos shareholders are holding the valuation up as we move the project to first production,” Duncan said.

Talos announced in March 2023 that the Zama Development Plan had been approved by the National Hydrocarbon Commission (CNH).

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
Latest news
Related news


Please enter your comment!
Please enter your name here