Latin American Economy & Business - February 2015 (ISSN 1741-7430)

The Mexican gold and silver mining entrepreneur, Alberto Bailleres, has launched one of the first ‘post-reform’ private sector energy companies in the country. The new firm, Petrobal, will form part of Bailleres conglomerate, which also includes mining companies Peñoles and Fresnillo, department stores Palacio de Hierro, and insurance company Grupo Nacional Provincial (GNP). According to the US magazine Forbes, Bailleres is Mexico’s second-richest man, with assets totalling US$18.2bn.