Tags: Billionaire | Slim | Invests | Colombian | Oil | Market | Tabasco

Billionaire Slim Invests in Colombian Oil Market With Tabasco Stake

Wednesday, 23 Feb 2011 08:23 AM

The Grupo Carso consortium controlled by Mexican billionaire Carlos Slim says it is entering a new business sector by buying a 70 percent stake in an oil exploration and production company.

Carso says it has reached an agreement to take a majority stake in Tabasco Oil Co. LLC, which has an exploration concession on a field in Colombia.

The consortium's statement sent to the Mexican stock exchange Tuesday does not say how much it is paying for the stake.

Carso is a diversified retail, construction and industrial conglomerate. It is controlled by Carlos Slim, who is considered the world's richest man with an estimated fortune of $53.5 billion.

Carso stock closed up 0.25 percent before the announcement was made.

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The Grupo Carso consortium controlled by Mexican billionaire Carlos Slim says it is entering a new business sector by buying a 70 percent stake in an oil exploration and production company. Carso says it has reached an agreement to take a majority stake in Tabasco Oil Co....
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2011-23-23
Wednesday, 23 Feb 2011 08:23 AM
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