Colombia, Korea Firms Take Peru Oil Asset

Colombia, Korea Firms Take Peru Oil Asset

Bonds Corporate & Sovereign Strategy

Colombia’s Ecopetrol and Korea National Oil Corp (KNOC) have acquired Offshore International Group, a Houston-based company whose main asset is Petro-Tech Peruana, for $900m. Each buyer is acquiring a 50% stake. Ecopetrol, which had announced plans to invest $870m on acquisitions this year, paid cash, according to a company spokesman who adds it has no debt. It is not known how the Korean company paid for its half and company officials were not available for comment. Financial advisors for parti

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