Sempra Energy’s Mexican subsidiary, Infraestructura Energetica Nova SAB de CV (IEnova), completed its acquisition of Pemex Transformacion Industrial's 50% equity interest in the Gasoductos de Chihuahua joint venture (JV) for about $1.14 billion.
The assets are three natural gas pipelines, an ethane pipeline, a liquid petroleum gas pipeline and an associated storage terminal.
Mexico's antitrust commission, the Comision Federal de Competencia Economica, authorized the transaction Sept. 15.
IEnova's shares in the JV will increase 100% from 50%. Pemex will retain 50% shareholder interest in the Ramones II Norte Pipeline project through Ductos y Energeticos del Norte S de RL de CV.
IEnova develops, builds and operates energy infrastructure in Mexico. Sempra Energy is based in San Diego.
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