BUZZ-UK-listed shares of Gran Tierra jump after $1.33 billion South American asset sale
GTE•Analyst view and year-to-date move
Peel Hunt analysts called the asset sale "transformational, reshaping Gran Tierra's portfolio," while reiterating a "buy" rating and 1,119p price target.
YTD, GTE up ~65%.
Gran Tierra shares jump after asset sale announcement
UK-listed shares of Gran Tierra Energy GTE.L GTE.TO rise 31.1% to 675p.
Gran Tierra Energy to sell its Colombian and Ecuadorean operations to Maurel & Prom for $1.33 billion, including debt.
Gran Tierra plans to return part of the proceeds to shareholders through share buybacks.
