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Mexican firms race to invest in energy sector

Friday, March 21, 2014

Mexican companies are racing to be first in line to invest in the country’s energy industry even before lawmakers pass final legislation that would end a 76-year state monopoly.

Alfa, owner of Mexico’s largest petrochemicals producer, sold $1 billion of bonds yesterday to help fund its energy business and refinance debt.

Former President Vicente Fox is creating a fund that aims to raise $500 million to invest in the country’s oil and power sector.

Source: Bloomberg