Slim’s Carso to Buy PetroBal Oil Stake for $530 Million (1)

Billionaire Carlos Slim’s Grupo Carso SAB reached a deal to acquire PetroBal SAPI’s stake in two oil fields in the Mexican state of Campeche for $530 million, expanding its bet on energy production.

The deal gives Carso a 50% stake in the Ichalkil and Pokoch oil fields, the company said in a statement late Monday. Carso shares, which have been trading at record levels, jumped 2.1% to 181.79 pesos at 8:37 a.m. Tuesday in Mexico City.

Mexican President Andres Manuel Lopez Obrador, who has been critical of energy reforms by his predecessor that opened exploration to private investment, nevertheless ...