Carso Oil & Gas, merging two energy units, to be created

Two energy units owned by billionaire Carlos Sim will be merged,

Shareholders of the subsidiaries voted in February to merge Carso Infraestructura, Construccion y Perforacion and Condumex Perforaciones into Carso Oil & Gas, Reuters reported, citing the advisory.

Carso Infraestructura, Construccion y Perforacion and Condumex Perforaciones were originally spun off in October from subsidiaries of Slim’s industrial conglomerate, Grupo Carso.

A spokesman for Slim was not immediately available to comment, the news wire said.

Mexico last year finalised a major overhaul of its energy sector, ending the state monopoly held by state-owned oil company Pemex and opening the sector up to attract private investment.

In an interview last year, Slim spoke positively of the energy reform, saying the sector required much more investment but did not detail his own plans.

Carso Oil & Gas will have about 1.2 billion pesos ($78.59 million) in capital after the deal, according to the report.