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Thursday, March 26, 2015

BlackRock and First Reserve take $900 million stake in Mexico pipeline project, (NYSE: BLK)

Asset manager BlackRock Inc and U.S. private equity firm First Reserve have taken a joint stake worth around $900 million in the second phase of Mexico pipeline project Los Ramones, state-controlled oil company Pemex said on Twitter on Thursday.In a separate statement, Pemex said the joint stake was equivalent to 45 percent of the costs involved in the construction of the project. It represents BlackRock's first ever infrastructure investment in Mexico, Pemex added."The company has the intention of establishing a greater presence in Mexico," Pemex said in the statement.On Wednesday, Reuters reported that BlackRock Inc, the world's largest asset manager, was looking to invest in infrastructure projects in Mexico.

BlackRock, Inc. (BlackRock) is an investment management firm. Shares of BLK fell by 0.49% or $-1.77/share to $362.15. In the past year, the shares have traded as low as $292.20 and as high as $382.84. On average, 533677 shares of BLK exchange hands on a given day and today's volume is recorded at 417686.