HOUSTON, August 24, 2012: Morgan Lewis represented Integradora de Servicios Petroleros Oro Negro, S.A.P.I. de C.V., an integrated and diversified Mexican oil field services company, in the acquisition of Todco Mexico, Inc. and its subsidiary Servicios Todco, S. de R.L. de C.V. for an aggregate consideration of approximately $36 million, consisting of a base purchase price of $28 million plus net working capital at the time of closing. Todco Mexico is an operator of oil rigs in the Gulf of Mexico and currently serves Petroleos Mexicanos.
The Morgan Lewis deal team included Business & Finance Partner-Elect Rodrigo Dominguez Sotomayor and Partners Brian Bradshaw (Energy Transactions) and Bart Bassett (Tax), aided by associates Craig Barrere, Matt Schernecke, Matt McNamara, Humberto Padilla, and Emilio Grandio.
Creel, Garcia-Cuellar, Aiza y Enriquez, S.C. acted as Mexican counsel to Integradora de Servicios Petroleros Oro Negro, S.A.P.I. de C.V. The Creel team included partners Eduardo Gonzalez and Leonel Perez-Nieto.
For more information, please see the press release announcing the transaction.