By OGJ editors
HOUSTON, June 1 -- BOC Group, Murray Hill, NJ, agreed to purchase 30% equity interest in Compania de Nitrogeno de Cantarell, S.A. de C.V. from Duke Energy Corp., Charlotte, NC, for $59.7 million.
Cantarell operates a nitrogen production and delivery facility in the Bay of Campeche, Mexico. Duke Energy recorded a non-cash charge of $13 million in its first quarter earnings in anticipation of this sale.
The sale was approved by the Mexican Federal Competition Commission and, subject to certain additional approvals, is expected to close within the next few weeks.
Duke Energy obtained its Cantarell interest through its earlier acquisition of Vancouver, BC-based Westcoast Energy Inc.
