Sinopec Oilfield Service to acquire 50% stake in Mexico's DS and invest up to 212 million US dollars more

M&A · Partnership
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Summary · why it matters

Sinopec Oilfield Service announced that its wholly owned subsidiary Sinopec International Petroleum Service Corporation and its Mexican subsidiary plan to acquire, for 4 million US dollars, the 50% stake in Mexico's DS held by DIAVAZ and the 0.01% interest in the EBANO project held by D&S. After the acquisition, Sinopec International Petroleum Service Corporation will hold 99% of Mexico's DS and indirectly obtain a 55% interest in the EBANO project through that company. At the same time, the company plans to invest up to 212 million US dollars more in the EBANO project. This transaction still needs to be submitted to the shareholders' meeting for approval and must satisfy multiple closing conditions.

Impact on stocks 1

Others▲ · 1 stocks
Sinopec Oilfield Service Corp
600871
▲ PositiveCapitalrelevance

Sinopec Oilfield Service acquires 50% stake in Mexico's DS and invests up to $212M more in EBANO project, expanding its stake.

Off-coverage companies 3

国工公司 (Sinopec Oilfield Service Mexico subsidiary)Private▲ Positive
Capitalrelevance

Sinopec's Mexican subsidiary indirectly gains 55% interest in EBANO project through acquisition.

Mexico DS Company (Diavaz Ebano JV)Private± Mixed
Capitalrelevance

Mexico's DS is the target of acquisition; impact depends on deal completion and future project performance.

Grupo DiavazPrivate± Mixed
Capitalrelevance

Grupo Diavaz sells its 50% stake in Mexico's DS; impact depends on sale terms and future involvement.

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