Geopark Announces Strategic Entry Into Venezuela Via Bare Block Heavy Oil Asset - GPRK News | RalliesGeopark Announces Strategic Entry Into Venezuela Via Bare Block Heavy Oil Asset
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GPRK• Geopark announces strategic entry into Venezuela
- GeoPark Ltd. announced a major strategic entry into Venezuela via the Bare Block heavy oil asset.
- Grupo Gilinski is expected to become the controlling shareholder of GeoPark.
- The deal is financed with GeoPark equity, with Grupo Gilinski to buy control.
- Exchange terms represent $160 million and $1.50 per share immediate value accretion.
- A tender offer is expected at $12.22 per share, with total size of $100 million and $2.10 per share pro-rata.
- Grupo Gilinski is expected to hold 56.3% of GeoPark shares after completion.
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