Slim's Grupo Carso Expands Its Energy Portfolio with Talos Mexico Acquisition

Grupo Carso, led by Carlos Slim, acquires 49.9% of Talos Energy's Mexican subsidiary, including the Zama mega-field. Mexican economy grows by 1% in Q1 2023. Trade deficit narrows to $1.509 billion in April. Mexicana de Aviación's asset sale deadline is set for June 5.

Slim's Grupo Carso Expands Its Energy Portfolio with Talos Mexico Acquisition
Carlos Slim's Grupo Carso expands its energy portfolio with the acquisition of Talos Energy's Mexican subsidiary, signaling a strategic move into the thriving oil and gas sector.

Carlos Slim's business conglomerate, Grupo Carso, has made a strategic move by acquiring 49.9% of Talos Energy's Mexican subsidiary, including its prized Zama mega-field. The deal, valued at a staggering $124,750,000, was announced today in a statement released by the US-based energy company.

Grupo Carso's foray into the energy sector has been met with great anticipation, as it aims to capitalize on the growing opportunities in Mexico's oil and gas industry. By securing a significant stake in Talos Mexico, the conglomerate takes a major leap forward in establishing itself as a key player in the country's energy market.

The acquisition of Talos Mexico not only provides Grupo Carso with access to substantial oil reserves but also grants them entry into the highly productive Zama mega-field. This development is set to enhance the conglomerate's influence in the sector and potentially unlock new avenues for growth.

In a recent statement, Carlos Slim, the renowned Mexican business magnate, expressed his enthusiasm for the deal, emphasizing the long-term benefits it will bring to Grupo Carso. "We believe that this acquisition aligns perfectly with our vision for expansion and diversification," Slim stated. "We are committed to leveraging our resources and expertise to maximize the potential of Talos Mexico's assets."

Meanwhile, the Mexican economy has demonstrated resilience, posting a growth rate of 1% in the first quarter of 2023, according to the National Institute of Statistics and Geography (Inegi). This positive development is a welcome sign, indicating a steady recovery from the challenges faced during the pandemic. Furthermore, on an annual basis, the economy expanded by an impressive 3.7%, demonstrating the robustness and laying a solid foundation for sustained growth.

However, the country's trade balance showed a deficit of $1.509 billion in April, as estimated by Inegi. Although the deficit was lower compared to the same period last year, when it reached $1.783 billion, it underscores the need for continued efforts to strengthen Mexico's export capabilities and improve the balance of trade.

In other news, the Mexican government has set a firm deadline of June 5 to conclude the sale of Mexicana de Aviación airline's assets. The process has been hindered by challenges arising from issues among retired workers. The sale of these assets holds significant importance, as it marks a crucial step toward resolving the long-standing situation surrounding Mexicana de Aviación and opens up opportunities for the revival of Mexico's aviation sector.

The federal government's commitment to resolving the sale efficiently and promptly reflects its determination to restore stability and competitiveness in the aviation industry. This move is expected to provide relief to the airline's employees and pave the way for a new chapter in Mexico's aviation landscape.

As Grupo Carso expands its presence in the energy sector, Mexico's economy shows promising signs of growth, and efforts to address challenges in trade and aviation move forward, the country's business landscape continues to evolve. With these recent developments, the stage is set for Mexico to embrace new opportunities and thrive.