Mar. 11 at 3:06 AM
$GPRK Parex Resources Enters into a Definitive Agreement to Acquire Frontera Energy's Colombian E&P Assets
"announce that it has entered into a definitive agreement (the "Arrangement Agreement") with Frontera Energy Corporation ("Frontera") (TSX:FEC), whereby Parex will acquire 100% of Frontera Petroleum International Holdings B.V. ("Frontera E&P"), which holds all of Frontera's exploration and production assets in Colombia, for upfront cash consideration of US
$500 million, the assumption of US
$225 million of net debt(11), and a contingent payment of US
$25 million (the "Transaction")."
