The International Finance Corporation (IFC), the World Bank's private-sector investment arm, and the private equity firm China-Mexico Fund on Wednesday announced a $200 million investment in Citla Energy, a new Mexican oil company.
The IFC said the investment was prompted by the "attractive economic conditions" in Mexico's energy sector, following a sweeping overhaul in 2013 that ended the nearly 80-year-old monopoly of state-owned oil giant Pemex.
The IFC said it would commit $60 million to Citla, and channel the rest from the China-Mexico Fund, a $1.2 billion private equity fund managed . . .
