NEWS
Rule 2.7 Announcement: Gran Tierra Energy to Acquire i3 Energy plc
Gran Tierra Energy (GTE) has announced a recommended cash and share acquisition of i3 Energy plc, valued at approximately £174.1 million (US$225.4 million).
The deal offers 13.92 pence per i3 Energy share, representing a 49% premium to the closing price on August 16, 2024. i3 Energy shareholders will receive one New Gran Tierra Share per 207 i3 Energy Shares and 10.43 pence cash per share, plus a 0.2565 pence cash dividend.
Following completion, i3 Energy shareholders will own up to 16.5% of Gran Tierra. The acquisition aims to create an independent energy company of scale in the Americas, with increased production, reserves, cash flows, and development optionality across Canada, Colombia, and Ecuador.
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