PacRu Makes Colombian Buy

PacRu Makes Colombian Buy

Colombia M&A Canada

Pacific Rubiales has agreed to acquire fellow Toronto-listed Colombian oil and gas company PetroMagdalena for CAD253m ($244m), it says. Pacific Rubiales is paying CAD1.60 for each common share of Magdalena, and CAD0.25 per share purchase warrant. It plans to fund the deal with cash on hand. PetroMagdalena has a market cap of about CAD187m and holds 19 properties in 5 basins in Colombia. RBC and Norton Rose Canada advised Pacific Rubiales. “The PetroMagdalena acquisition was not within our expect

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial