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Pacific Rubiales confirms offer and exclusive discussions; $6 billion ALFA takeover on the cards


Published May 7, 2015
Pacific Rubiales Energy Corp.

Pacific Rubiales Energy Corp. has entered into exclusive discussions in respect of an offer from ALFA, S.A.B. de C.V. and Harbour Energy Ltd., whereby they would acquire all of the issued and outstanding common shares in the capital of the Company not owned by ALFA for a price of C$6.50 per share, subject to completion of definitive documentation and final Board approvals. The Company's Board has constituted a Special Committee comprised of independent directors, which has engaged an independent financial advisor to deliver a formal valuation in accordance with applicable Canadian securities laws.

Together, ALFA and Harbour Energy have completed technical, financial and legal due diligence. ALFA and Harbour Energy have agreed with the Company to work toward completion of definitive documentation expeditiously. The contemplated transaction would be subject to a number of conditions and there can be no assurance that any transaction will be completed.

ALFA currently holds 59,897,800 Common Shares, representing approximately 18.95% of the issued and outstanding Common Shares.

Tags: Pacific Rubiales Energy Corp.




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