"Modelo de Valuación de Empresas Estratégicas Descentralizadas que Exploran y Explotan Recursos Naturales (Caso Pemex) "

Abstract

A valuation of companies that explore and exploit natural resources (as Pemex’s case), interpreting them under the optics of a ”Special Purpose Vehicle” (SPV), it allows a detailed analysis and transparent, when the entity does not own the assets generating operational flow,has negative equity, presents a generation of free cash flow negative and is subject to a tax regime assumed as ”royalties”that do not allow the deductibilityof interest. Furthermore its high taxes oblige it to issue debt to fund its capex. The proposal is that these companies can cleave monetary sources under any financial scheme, including private equity, without affecting sovereignty of each country’s natural resources.