Mexico’s competition watchdog on Friday said it objected to a deal for Mexican energy infrastructure firm IEnova to buy out state-run oil company Pemex’s stake in pipeline company Gasoductos de Chihuahua.
The Federal Economic Competition Commission (COFECE) said in a statement that Pemex had not sold its stake in a liquefied petroleum gas pipeline and the San Fernando natural gas pipeline, which had been required by a previous anti-trust agency that COFECE has replaced.
Both IEnova, a unit of US-based Sempra Energy, and Pemex said in statements that they would restructure the deal to meet the requirements and that IEnova could acquire Pemex’s stake in Gasoductos de Chihuahua, excluding the assets signaled by COFECE.
IEnova said in July that it would buy Pemex’s 50 percent stake in Gasoductos de Chihuahua for $1.325 billion.
Full content: Reuters
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
ConocoPhillips Acquires Marathon Oil for $22.5 Billion in Major Energy Sector Consolidation
May 29, 2024 by
CPI
Judge Denies Amazon’s Bid to Dismiss FTC Lawsuit Over Prime Membership Practices
May 29, 2024 by
CPI
Germany and France Advocate for Major EU Competition Reform
May 29, 2024 by
CPI
Equifax Accused of Monopolizing Employment Verification Market in New Suit
May 29, 2024 by
CPI
Car Battery Makers to Challenge EU Cartel Charges in Brussels
May 29, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI