Zamajal, S. A. de C.V. executed an equity interest purchase agreement to acquire 49.9% stake in Talos Energy México 2 S. de R. L. de C. V. from Talos Energy Inc. (NYSE:TALO) for approximately $120 million on May 25, 2023. As reported, the consideration consists of $74.85 million in cash to be paid at closing and an additional $49.9 million of cash consideration contingent on first oil production from the Zama field. The purchase price of $124.75 million, implies a minimum valuation of approximately $250 million for the full 17.4% stake in Zama, potentially increasing to $262.50 million if certain milestones are reached. The transaction is expected to close during the third quarter of 2023, subject to approval by Mexico?s Federal Economic Competition Commission. Juan Carlos Serra Campillo of Basham, Ringe & Correa, S.C. acted as legal advisor to Grupo Carso and José L. Valera and Ariel Ramos of Mayer Brown LLP acted as legal advisor to Talos Energy. Carlos Facha and Deborah Huston acted as in-house counsel to Carso and Talos, respectively.

Zamajal, S. A. de C.V. completed the acquisition of 49.9% stake in Talos Energy México 2 S. de R. L. de C. V. from Talos Energy Inc. (NYSE:TALO) on September 27, 2023.