Basham, Ringe, y Correa advised Grupo Carso in the acquisition of 49.9% of Talos México.

Mexico City, May 26, 2023.

Basham, Ringe y Correa, S.C. (“Basham”) has advised Grupo Carso, S.A.B. de C.V. (“Carso”) in a highly complex operation which involves the acquisition of a 49.9% interest in Talos México, a subsidiary of Talos Energy (“Talos”), which owns a 17.4% interest of the Company in the Field Zama, for an estimated purchase price of USD$124.75 million.

This investment marks Carso’s first foray into Mexico’s upstream activities. In 2021, Talos filed notices of intent to arbitrate specific claims against the Mexican government under the Treaty between the United States of America, the United Mexican States, and Canada (USMCA) and the Bilateral Investment Treaty between the United Mexican States and the Belgian-Luxembourg Economic Union (BLEU-BIT) regarding decisions adopted by the Mexican government about the unitization of oil fields and the designation of Petróleos Mexicanos (PEMEX) as operator of the Zama field.

It is important to note that the closing of this transaction is subject to the approval of the Federal Economic Competition Commission of Mexico (“COFECE”).

The following individuals were the legal advisors in this transaction:

Basham (representing Carso):

Juan Carlos Serra Campillo

Pablo Nosti Herrera

Fernando Morayta Guerrero

Carolina Nogal Gomez

Fernando Osante Kretchmar

Carso:

Carlos Facha

Mayer Brown LLP (Houston) (representing Talos):

Jose L. Valera

Federica Castro

Talos:

Deborah Huston