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BlackRock and First Reserve back Mexico pipeline

Friday, March 27, 2015

Asset manager BlackRock and U.S. private equity firm First Reserve have taken a joint stake worth around $900 million in the second phase of Mexico pipeline project Los Ramones, state-controlled oil company Pemex said.

In a separate statement, Pemex said the joint stake was equivalent to 45 percent of the costs involved in the construction of the project.

Source: Reuters