BP Plc and Bridas Corp. have completed the formation of Pan American Energy Group, or PAEG, a 50/50 joint venture announced in September.
PAEG was formed by the combination of Pan American Energy and Axion Energy. BP owned 60% of Pan American Energy and Bridas owned 40%; Axion had been wholly owned by Bridas.
The new company is now the largest privately owned integrated energy company operating in Argentina, BP said in a statement.
The cash-free transaction had originally been expected to close in early 2018.