February 14, 2019 |
Vista Oil & Gas said the Abu Dhabi Investment Council (ADIC) has agreed to pay $55m for as much as 26.5% of the Mexico-listed company.
ADIC will acquire 5.5m shares in Vista, equal to 16.5% of the company, and also have the option to buy another 5m shares, equal to 10%, Vista said in a press release.
ADIC previously acquired 9.99% of Vista for $70m, a Vista spokesperson said.
With plans to invest more than $2bn in the next five years, Vista secured a five-year loan for $300m in July last
Argentine oil and gas SPAC gets $55m from the Abu Dhabi sovereign wealth fund