Goldman Sachs settles CFE dispute, secures gas-trade windfall, Bloomberg says

Goldman Sachs (GS) is set to reap winnings after being locked in a battle for nearly four years with Mexico’s state-owned utility, Comision Federal de Electricidad, over more than $400M it said was owed from a routine natural gas trade that went wild when a deep freeze descended on Texas in February 2021, Bloomberg’s Michael O’Boyle and Sridhar Natarajan report. According to people familiar with the matter, CDE will foot a reduced portion of the ball, or roughly $300M, significantly reducing the economic and operational scope of the dispute, resulting in a satisfactory solution and allowing both parties to close the procedure before the London Court of International Arbitration.