Maurel & Prom: final agreement on Sinu-9 in Colombia
(CercleFinance.com) - Maurel & Prom announces that it has entered into a definitive agreement with NG Energy International to acquire a 40% operated interest in the Sinu-9 gas license in Colombia, in accordance with the letter of intent signed on 19 January.
The economic effective date of the transaction is 1 February 2025. The $150m consideration will be financed by M&P's existing cash and available credit facilities ($260m at end-2024).
Completion of the transaction remains subject to regulatory approvals and other customary conditions. M&P will have a 12-month option to acquire an additional 5% stake under the same conditions.
Copyright (c) 2025 CercleFinance.com. All rights reserved.
The economic effective date of the transaction is 1 February 2025. The $150m consideration will be financed by M&P's existing cash and available credit facilities ($260m at end-2024).
Completion of the transaction remains subject to regulatory approvals and other customary conditions. M&P will have a 12-month option to acquire an additional 5% stake under the same conditions.
Copyright (c) 2025 CercleFinance.com. All rights reserved.