The US government approved the acquisition of the Royal Dutch Shell Plc’s Deer Park refinery by Petroleos Mexicanos (Pemex). The Mexican Foreign Minister Marcelo Ebrard presented a letter that stated there were no unresolved national security concerns regarding the transaction, according to the Committee on Foreign Investment in the United States (CFIUS). Once the CFIUS investigation is completed, the White House has up to 15 days to approve or reject the recommendation for the deal. Pemex’s CEO Octavio Romero stated that Mexico would pay Shell’s and Pemex’s debt in the refinery, amounting to a total of $1.2bn. Pemex recently announced that it may spend about $1bn more than expected to take over the refinery. Romero said, “The idea is to finalize the purchase during the first weeks of 2022.”
Pemex’s USD bonds were trading stable with its 6.84% 2030s trading at 103.944, yielding 6.2%
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