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Petrofac farms out stake in Mexico
Aug. 2, 2018
Source: World Oil

Petrofac farms out stake in Mexico

Jersey-based oilfield services provider, Petrofac entered into an agreement to farm out 49% of its operations in Mexico. The stakes have been sold to Perenco International, which will pay initial cash consideration of $200 million. Petrofac is planning to utilise the proceeds from the sale to reduce its gross debt. The deal is subject to approval by COFECE, Mexico and is expected in 4Q2018.

   Read More About : Mergers and Acquisitions Mexico Petrofac US
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