19th Oct 2018 08:36
LONDON (Alliance News) - Petrofac Ltd said Friday it completed the sale of a 49% stake in its operations in Mexico to Perenco Oil & Gas International Ltd.
The FTSE 250-listed oilfield services provider completed the disposal after receiving approval from the Federal Competition Commission of Mexico.
Petrofac agreed the sale at the end of July for USD200 million. Under the terms, Petrofac secured USD30 million upon signing and USD170 million upon completion of the deal.
The disposal includes Santuario, Magallanes and Arenque operations.
Petrofac shares were trading up 0.6% at 589.84 pence each.
Related Shares:
Petrofac