Basham, Ringe, y Correa advises Grupo Carso in the acquisition of Talos Mexico.

 

Mexico City, May 26, 2023. Basham, Ringe, y Correa, S.C. (“Basham”) has provided comprehensive legal advisory services to Grupo Carso (“Carso”) in a complex deal involving the acquisition of a 49.9% interest in Talos Mexico, a subsidiary of Talos Energy (“Talos”), which holds the Company’s 17.4% stake in Zama, for an estimated purchase price of USD$124.75 million.


Throughout this transaction, Basham has advised Carso in various aspects, including due diligence, drafting, and negotiating the Equity Interest Purchase Agreement, the Owners’ Agreement, and the required ancillary documents.


This investment marks Carso’s inaugural venture into the upstream sector, representing a significant milestone for the company’s growth and diversification strategy. In 2021, Talos submitted Notices of Dispute to the Government of Mexico under the Agreement between the United States of America, the United Mexican States, and Canada (USMCA) and the Bilateral Investment Treaty between the United Mexican States and the Belgo-Luxembourg Economic Union (BLEU-BIT) over decisions taken by SENER, including the recent designation of Petróleos Mexicanos (PEMEX) as the operator of the Zama oilfield. However, after careful consideration and trust in the Mexican government's commitment to maintaining a transparent and conducive business environment, Talos decided to continue the transaction. This decision reflects Talos' confidence in the ongoing dialogue and cooperation with the Mexican authorities to resolve any differences constructively and mutually beneficially.


It is important to note that the closing of this transaction is subject to approval by Mexico's Antitrust Commission (“COFECE”). Carso and Talos work closely with the regulatory authorities and all necessary permits to close.


The following parties played critical roles in this transaction:


From Basham (representing Carso):

Juan Carlos Serra Campillo

Pablo Nosti Herrera

Fernando Morayta Guerrero

Carolina Nogal Gomez

Fernando Osante Kretchmar