Pacific Rubiales Grows In Colombia With $628M Stock Deal

Law360, New York (November 19, 2012, 1:26 PM EST) -- Pacific Rubiales Energy Corp. said Monday that it will acquire C&C Energia Ltd. in a stock-for-stock deal valued at CA$626 million (US$628 million) and use it as the centerpiece of a new oil and gas exploration company to grow its footprint in Colombia.

Pacific Rubiales will swap 0.3528 shares of its own stock and one share of stock in a newly created company for each C&C share. That values each C&C share at $9.81, ringing up a cost to Pacific Rubiales of CA$498 million and a...
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