BP and Bridas complete formation of new integrated energy company

BP and Bridas complete formation of new integrated energy company

BP 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.

Source / More: BP

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