Argentina's Competition Authority authorises Petrobrás Acquisition of Perez Companc
Article from: OGEL 4 (2003), in National and International Issues in Natural Gas Development
Summary
The merger between two giants in the oil and gas, petrochemicals and energy markets - Petrobras and Pecom - was approved in Argentina by the Argentinean Competition Authority. Petrobras, Brazil´s government controlled company, acquired the control of the Argentinean companies Pecom Energía and Petrolera Perez Companc, in a deal worth USD 1.13 billion. The case was treated as a concentration transaction according to Argentinean Law. Pursuant to the decision, Pecom Energía agreed to disinvest itself of its 30 per cent aggregate equity interest in the power transmission company Transener SA, ...