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Mexico: Talos Energy has announced the sale of an additional 30.1% interest in Talos Mexico to Grupo Carso


17 Dec 2024

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Talos Energy has announced the sale of an additional 30.1% interest in Talos Mexico to Zamajal, an entity owned 90% by Grupo Carso, and 10% by Control Empresarial de Capitales, which owns approx. 24% of Talos's common stock.

As consideration for the additional stake, Talos will receive $49.7 million in cash at closing, with an additional $33.0 million due upon first commercial production from the Zama Field, for an aggregate price of $82.7 million. At closing, Talos Mexico will be owned 20.0% by Talos Energy and 80.0% by Zamajal. Talos Mexico holds a 17.4% interest in the Zama Field. The Transaction is expected to close upon the receipt of all regulatory approvals.

Upon the achievement of commercial production from the Zama Field, Talos now expects to receive $82.9 million in cash contingent considerations. This amount comprises $33.0 million from the current Transaction and $49.9 million from the earlier equity interest transaction.

Talos Interim President and Chief Executive Officer Joseph Mills stated, 'We are pleased to execute this important transaction with Carso on Zama, crystallizing benefits to Talos's stockholders. This transaction allows us to maximize stockholder returns, maintain our involvement in Zama and contribute to its continued progress.' 

Separately, Talos entered into a cooperation agreement with Control Empresarial De Capitales. Pursuant to the Agreement, Talos and Control Empresarial and its affiliates have agreed that from today and through December 16, 2025, Control Empresarial will not acquire additional shares of Talos common stock to the extent that such acquisition would cause the investor group's holdings of Talos common stock to exceed 25%. For more information regarding the Agreement, please refer to the Company's Form 8-K filed with the Securities and Exchange Commission.

Talos also announced that it will amend the Company's stockholder rights plan to provide for its termination, effective 5:00 p.m. New York time on the date of execution of the amendment.

Original announcement link

Source: Talos Energy





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