Mexico's Pemex sells its majority stake in Repsol over management disputes

Wednesday, June 4th 2014 - 08:58 UTC

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Mexico's state-owned oil giant Pemex has sold the majority of its stake in Spanish energy firm Repsol for approximately 2.2bn Euros with the intervention of Citigroup and Deutsche Bank. Pemex has been a shareholder in Repsol for more than 25 years. Read full article

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ChrisR
“Mexico's Pemex sells its majority stake in Repsol over management disputes”

It seems like a bunch of Mexicans who thought they knew how to run a petrochemical company backing the wrong horse in Sacyr, the outfit that is still trying to shaft the Panama Canal Company for US$ 1.6 Billion in “cost over-runs”.

Looks like Brufau outwitted the wanabe US Citizens, who, in a new turn of events have just grasped reality in getting shot of the monopoly petrol business, should anybody want to buy a run-down business failing at every turn.

Perhaps YPF will buy it and run it further into the ground.

The Lunatic of Chew Butt will put in his 50 arsewipes, only last year(ish) he was touting them as an example of how successful Pemex were! His record of being wrong at every turn is still safe then.
Jun 04th, 2014 - 09:50 pm - Link - Report abuse 0
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