Grupo Carso acquires PetroBal and consolidates its presence in the oil sector.

Grupo Carso, the leading company in Mexico controlled by the Slim family, has formalized the acquisition of PetroBal, the renowned oil company owned by the Baillères family. This transaction, which was announced last December, has finally been completed after obtaining the necessary authorizations and meeting all the conditions required to carry out the purchase. The news of the acquisition of PetroBal by Grupo Carso has been revealed through a relevant event at the Mexican Stock Exchange. The operation will be carried out through Zamajal, Carso's subsidiary specialized in the oil business, which has experienced significant growth in its asset portfolio in the last year with the aim of consolidating its presence in the oil sector, which was previously limited to the ownership of two fields acquired in the energy reform rounds. The value of this acquisition is estimated at 530 million dollars, as announced in December. So far, there have been no reports of changes in the initially established valuation. This strategic move positions Grupo Carso as a significant player in the oil sector, allowing it to expand its presence in the upstream segment, as previously planned. John Padilla, director of the consultancy IPD Latin America, highlighted the importance of these acquisitions for Grupo Carso, indicating that they will provide a solid platform to strengthen its business in the oil industry. Up to now, Carlos Slim's company had a minor participation in this sector, so this operation represents a significant step in its growth and diversification strategy. In recent years, Grupo Carso has significantly increased its presence in the oil market, with the approval of the President of Mexico, Andrés Manuel López Obrador. It has been mentioned that the conglomerate would be interested in participating in the Lakach field, a gas-producing asset that Pemex has not been able to develop for over a decade and that was recently abandoned by an American company. In addition to the acquisition of PetroBal, last year Grupo Carso acquired 49% of the American oil company Talos Energy, as well as a minority stake in Wintershall Dea, two companies with a prominent presence in the Zama field, an asset with great potential that has been the subject of dispute in the private sector of the oil industry. These strategic operations consolidate Grupo Carso's presence in the energy sector, positioning it as a significant player in the oil market both nationally and internationally. With these acquisitions, Carlos Slim's company demonstrates its commitment to expanding its operations in the oil and gas sector, betting on the growth and diversification of its asset portfolio in a context of constant transformations in the global energy industry.