Petro Andina Sells Argentina Assets to Pluspetrol

Petro Andina Sells Argentina Assets to Pluspetrol

Argentina

Canada-based Petro Andina says it has agreed to sell its Argentina assets to Pluspetrol for CAD7.65 in cash per share, valuing the company at around CAD500m. In addition, Petro Andina shareholders will get 1 share in a new company called ExploreCo, which will hold Petro Andina’s assets in Colombia and Trinidad & Tobago, and one-tenth of an arrangement warrant to purchase shares of ExploreCo. Each whole arrangement warrant will be exercisable at a price of CAD3.00 for a period of 30 days foll

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