Gran Tierra stockholders back sale of Colombia, Ecuador businesses to Maurel & Prom for about US$1.33 billion
GTE•Gran Tierra stockholders backed the sale of its Colombia and Ecuador businesses to Maurel & Prom for about US$1.33 billion, with expected net cash proceeds of about US$315 million.
1. Sale terms and timing
The consideration includes assumed debt and adjustments; about US$250 million is expected at closing and about US$65 million 364 days later. Closing conditions now center on regulatory approvals in Colombia and Ecuador, with completion targeted around Dec. 31, 2026; Gran Tierra expects to be debt-free at closing and is contemplating a share repurchase using part of the proceeds, subject to completion.
