Pacific Rubiales acquires Colombian junior PetroMagdalena for US$298 million
Pacific Rubiales is to acquire Colombian junior PetroMagdalena for US$298 million (including net debt). Pacific Rubiales' C$1.60 per share offer represents a premium of 28% to PetroMagdalena's closing price the day prior to deal announcement. The deal marks Pacific Rubiales' fourth acquisition in Q2 2012; a spending spree that has seen it invest around US$1 billion. While the other three deals were focused on international opportunities - in Papua New Guinea, Guyana and ...