Ashurst is advising Amerisur Resources in relation to a recommended £242 million offer for the company by GeoPark Colombia S.A.S.
Pursuant to the terms of the acquisition, which is being structured as a statutory scheme of arrangement, each Amerisur shareholder will be entitled to receive 19.21 pence in cash for each Amerisur share. The transaction follows from a strategic review including a formal sales process announced by Amerisur on 19 July 2019 under the Takeover Code to maximise value for shareholders.
Amerisur is an AIM quoted independent oil and gas company focussed on production, development and exploration activities onshore Colombia. It has a strategic position in the underexplored Putumayo Basin that covers 11 operated blocks. These include Put-9, Mecaya, Teracay and Tacacho where it is operator and a 50 per cent. partner with Occidental.
GeoPark is a leading independent Latin American oil and gas company with assets and growth platforms in Colombia, Peru, Argentina, Brazil, Chile and Ecuador. GeoPark is currently listed on the New York Stock Exchange, with a market capitalisation of approximately $1.2 billion.
The Ashurst team is being led by corporate partner Tom Mercer (Picture), assisted by senior associate Maria McAlister and associate Kiara De Silva, as well as head of incentives Nicholas Stretch and senior associate Rebecca Servian.
Law Firms: Ashurst;
Clients: Amerisur Resources Plc;