Grupo Carso acquires 70% of TOC in Colombia

Group Carso, S.A. de C.V., owned by Mexican business magnate Carlos Slim, acquired a 70 per cent interest in Tabasco Oil Company, LLC (TOC), which has an exploration and production concession in Colombia. Financial details of the acquisition were not disclosed.

“This marks the entrance of Carso Group into a new sector in Latin America,” reported the daily newspaper El Espectador, citing information released by the group to the Mexican Stock Exchange (BMV by its Spanish acronym).

TOC, owned by Geoprocesados, is dedicated to the exploration, production and commercialization of hydrocarbons in Latin America. The company has just one concession in Colombia.

See the Grupo Carso record in Latin Target.

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