Talos Energy Sells Additional Stake in Mexican Unit to Zamajal, Signs Cooperation Deal With Control Empresarial

MT Newswires Live2024-12-17

Talos Energy (TALO) said Tuesday it has sold an additional 30.1% stake in its Talos Mexico subsidiary to Zamajal, a company 90% owned by the Mexican conglomerate Grupo Carso.

At closing, Talos Energy will receive $49.7 million in cash, with a further $33 million due upon the first commercial production from the Zama Field, the company said.

Following the deal, Zamajal will own 80% of Talos Mexico, with Talos Energy owning the remaining 20%, the company said.

In addition, Talos said it has signed a deal with Control Empresarial de Capitales, which owns 24% of its common stock, under which Control has agreed it will not buy more shares through Dec. 16, 2025 to the extent that its stake would exceed 25%.

Talos Energy shares were 1.1% higher in premarket trading.

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