BP and Bridas Complete Formation of New Integrated Energy Company

Source Press
Company BP Plc.Bridas CorporationPan American Energy 
Tags Corporate Deals, Deals, Refinery Project, Refining & Marketing Activities
Date December 18, 2017

BP today confirmed that formation of Pan American Energy Group (PAEG) has completed. The new company, owned by BP (50%) and  Bridas Corporation (50%), is now the largest privately-owned integrated energy company operating in Argentina.

PAEG was formed by the combination of Pan American Energy and Axion Energy.  Pan American Energy had been owned 60:40 by BP and  Bridas Corporation and Axion wholly-owned by  Bridas Corporation.

The cash-free transaction had originally been expected to complete in early 2018.

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