Argentina Clears YPF-Petrobras Swap
Argentina's antitrust regulator approved in mid-November the
long-delayed $1 billion swap of refining, retail and other
assets between Spanish-owned Repsol-YPF and Brazil's national
oil company Petrobras. The two originally struck the deal a
year ago. Argentina's YPF, which Repsol bought in 1999, can now
hand Petrobras its EG3 chain of service stations in exchange
for more than 300 Petrobras stations, plus refining and
drilling businesses in Brazil.
Mexico Reforms Pension Fund Rules Mexico is taking steps to
boost the retirement funds of Mexican workers, to obtain higher
returns on their savings. In late October, Consar, the
commission regulating Mexico's $23 billion retirement savings
industry, announced several changes to pension fund regulations
giving funds greater investment flexibility. They allow fund
managers to buy longer-term bonds and the country's 13 Afores
or pension fund management companies may also for the first
time buy bonds issued by the...
Already have an account?
Subscribe now for unlimited access to all current and archive news, data and market analysis.
Take a free two-week trial now for the latest news, data and market analysis.