Rubiales Pays Up for Synergies

Oct 1, 2013

Pacific Rubiales has agreed to buy Petrominerales for CAD1.58bn ($1.53bn), in a combination of assets that analysts see as beneficial even if coming at a cost. Rubiales is to pay CAD935m and take on CAD640m debt, the two Colombian E&P operators say. Petrominerales shareholders will receive CAD11.00 per share and one share in a newly formed entity to hold Brazilian assets and receive a...

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