The offervalues C&C Energia at C$7.81 per share – a premium of 4% on its closingprice of C$7.50 on Friday – and involves an exchange of shares in both PacificRubiales and the newly created entity, Newco.
Under thedeal, Pacific Rubiales will get its hands on four development blocks - Cravoviejo, Cachicamo, Pájaro Pinto and theLlanos 19 licences – held by C&C in the Colombia’s prolific Llanos basin closeto its own heavy oil production and transport facilities.
Light
