GeoPark issues 42 million shares to Grupo Gilinski for Venezuela Bare Block stake at US$ 12.22 each
GPRK•Possible additional shares and tender offer
The deal terms allow for up to 5,400,000 additional shares if contractual conditions improve before closing.
Grupo Gilinski is expected to own 56.3% of GeoPark after the issuance, rising to about 58.4% under the adjustment mechanism.
A separate tender offer is planned at US$ 12.22 per share for US$ 100 million, offering liquidity alongside the change in control.
GeoPark agrees share issuance for Bare Block stake
GeoPark agreed to buy Grupo Gilinski’s 95% stake in a holding company tied to Venezuela’s Bare Block redevelopment.
Consideration is set at 42,100,000 newly issued GeoPark shares priced at US$ 12.22 each, implying a value of about US$ 160 million.
