Germany’s Dea has struck a deal to acquire private equity player Sierra Oil & Gas, increasing its footprint in Mexico’s emerging hydrocarbons sector and taking a 40% stake in the large Zama discovery.
The deal, which Dea has touted as the largest upstream merger and acquisition move in Mexico since the country opened its sector to private players, is expected to close in the first half of 2019 pending corporate and regulatory approvals.
