Sempra Energy unit IEnova acquires PEMEX stake in JV
9/28/2016
Sempra Energy’s 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 for approximately $1.14 B.
Mexico's antitrust commission, the Comisión Federal de Competencia Económica, authorized the transaction Sept. 15. IEnova's shares in the JV now increase to 100% from 50%. 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.
The assets included in the transaction comprise three natural gas pipelines, an ethane pipeline, and a liquid petroleum gas pipeline and associated storage terminal.
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