Join the conversation:

Carlos Slim creates oil companies for drilling

Carlos Slim creates oil companies for drilling

Posted by Ricardo Vázquez on October 15, 2014

Mexican conglomerate Grupo Carso, owned by magnate Carlos Slim, approved the creation of three new oil drilling companies with assets from other three companies, with a joint value of 570 million dollars, according documents released Tuesday.

It is not clear if the new companies will remain as part of Grupo Carso, a business conglomerate comprising department stores, construction and infrastructure business, as well as telecommunication and energy services.

The new companies will be named Carso Infraestructura, Construcción y Perforación; Carso Perforación and Condumex Perforaciones, and they are created after a historic reform in the energy sector, which opened the door to private investment to the formerly closed petroleum business.

The creation of the new companies, which wasn’t reported to the Mexican Stock Market, will be official on November 30, if certain conditions are met, and was decided in stockholder meetings held in October 2 and 3.

Some Grupo Carso units are already working as service providers to the energy sector.

There are no official comments from Carso as of yet.

Link To Full Article: 

Facebook comments



Monthly newsletter featuring articles hand picked by our country managers from the best content across PanamericanWorld.



Monthly newsletter featuring articles hand picked by our country managers from the best content across the Caribbean Region on PanamericanWorld.

PANAMERICANWORLD COUNTRIES