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La incursión de Pemex en Repsol: un experimento fallido propiciado por la reforma energética


  • Gutiérrez Rodríguez, Roberto

    () (UAM-I)


We analyze the operation of doubling Pemex shareholding in Repsol-YPF in late 2011, and the syndication of that possession with SyV so as to enhance control over the decisions-making process of R-YPF with the possibly to make a takeover bid. We show that, between late 2011 and January 2013, this investment reported the country a loss, including interest on a loan taken to buy the shares of R-YPF, near to 920 million dollar, making it clear the misuse of part of the country’s fiscal resources by Pemex. Also Mexico’s relations with Spain were put in jeopardy and those with Argentina deteriorated due to the nationalization of 51% of the shares of YPF, in April 2012.

Suggested Citation

  • Gutiérrez Rodríguez, Roberto, 2012. "La incursión de Pemex en Repsol: un experimento fallido propiciado por la reforma energética," Revista Nicolaita de Estudios Económicos, Universidad Michoacana de San Nicolás de Hidalgo, Instituto de Investigaciones Económicas y Empresariales, vol. 0(2), pages 87-106.
  • Handle: RePEc:ris:rnicee:0072

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    shareholding; energy reform; unionization; handicap; takeover bid.;

    JEL classification:

    • L71 - Industrial Organization - - Industry Studies: Primary Products and Construction - - - Mining, Extraction, and Refining: Hydrocarbon Fuels
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy


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