Perez Companc Sells San Antonio to Pride International

Monday, April 10, 2000

Argentine oil company Perez Companc has sold its interest in oil services company Servicios Especiales San Antonio to US-based Pride International for US$78mn. San Antonio has businesses in Argentina, Venezuela, Bolivia and Peru.

The sale price could increase by US$12mn, according to a statement from Perez Companc to the Buenos Aires Stock Exchange. A source in the company said that the sale is in line with Perez's plan of concentrating investments in its two main areas, energy and petrochemicals.

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