Pacific Rubiales Ups Stake in Port Venture

Pacific Rubiales Ups Stake in Port Venture

Colombia M&A

Pacific Rubiales has increased its stake in infrastructure development company Pacific Infrastructure, which is erecting a port and pipelines in Cartagena, it says. The Colombian oil company has agreed to purchase 140m shares at $1.00 a share, for a total purchase price of $140m. The deal leaves Pacific Rubiales with a 61.5m share, or 30%, position in Pacific Infrastructure. Officials at Pacific Rubiales and Pacific Infrastructure could not immediately be reached for comment. As part of the deal

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