October 6, 2017 / 4:44 PM / 2 months ago

IEnova ups stake in major Mexican natural gas pipeline

MEXICO CITY, Oct 6 (Reuters) - Mexico’s Infraestructura Energetica Nova (IEnova) said Friday it had acquired state oil firm Pemex’s stake in the joint venture Ductos y Energeticos del Norte, increasing its participation in the second phase of a key natural gas pipeline.

As a result of the transaction, IEnova’s indirect stake in the project known as Ramones II North, will increase to 50 percent from 25 percent, said IEnova, a unit of U.S.-based Sempra Energy. The value of the operation is approximately $520 million, the company said. (Reporting by Julia Love and Veronica Gomez)

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