Sempra Energy has confirmed that its Mexican subsidiary, Infraestructura Energética Nova, S.A.B. de C.V. (IEnova), has completed its acquisition of PEMEX Transformación Industrial's 50% equity interest in the Gasoductos de Chihuahua joint venture. The deal is said to be worth approximately US$1.14 billion.
Mexico's antitrust commission (the Comisión Federal de Competencia Económica) authorised the transaction on 15 September.
IEnova's shares in the joint venture now increase from 50% to 100%. PEMEX will retain 50% shareholder interest in the Ramones II Norte pipeline project through Ductos y Energéticos del Norte, S.de R.L. de C.V.
Included in the transaction is three natural gas pipelines, an ethane pipeline and a liquid petroleum gas pipeline and associated storage terminal.
Adapted from press release by Anna Nicklin
Read the article online at: https://www.worldpipelines.com/business-news/28092016/ienova-completes-acquisition/