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Colombia Approves Transfer Of Amerisur's Putumayo Assets To GeoPark

Thu, 12th Dec 2019 11:07

(Alliance News) - Oil producer Amerisur Resources PLC on Thursday said the Colombian regulator has approved its acquisition by GeoPark Ltd.

In November, Cardiff-based Amerisur agreed a GBP242 million takeover by Latin America-focused oil and gas producer GeoPark, which is paying 19.21 pence per share for Amerisur. Shares were 1.3% higher on Thursday morning in London at 19.04p.

Amerisur began a strategic review in July, after receiving interest from fellow operators in Colombia, and rejected a USD260 million proposal from France's Maurel & Prom soon thereafter.

On Thursday, Amerisur said the Agencia Nacional de Hydrocarburos has approved the transfer of contracts for some of Amerisur's Putumayo assets. They have now filed all necessary merger control filings.

The takeover still needs approval from Amerisur's shareholders, who will be meeting on Thursday next week to vote.

By George Collard; georgecollard@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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