Alfa seeks $1 billion for energy projects

Mexican conglomerate Alfa said it wants to issue about $1 billion worth of shares so it can invest in Mexican energy projects in shale gas, conventional hydrocarbons and electricity.

The company hopes to take advantage of a sweeping energy reform in Mexico passed earlier this year, which ended the decades-old monopolies of state-owned oil company Pemex and national power company CFE.

The company, which manufactures car parts and refrigerated foods as well as petrochemicals, is one of a handful of Mexican companies set to benefit directly from the reform.

Source: Reuters