Gran Tierra agrees to sell Colombia, Ecuador oil business to Maurel & Prom for USD 1.33 billion
Reuters2026/08/05 06:08- Gran Tierra agreed to sell its Colombia and Ecuador oil business to Maurel & Prom for total consideration of USD 1.33 billion.
- Deal includes Maurel & Prom assuming Gran Tierra’s 9.750% Senior Secured Amortizing Notes due 2031, 9.500% Senior Notes due 2029, and the prepayment facility.
- Net cash proceeds expected at about USD 315 million; about USD 250 million cash at closing, with USD 65 million due 364 days later via an unsecured note.
- Closing targeted around Dec. 31, 2026, with an economic effective date of March 31, 2026; mutual break fee set at USD 50 million.
- Company expects to be debt-free at completion; plans include share repurchases and funding growth programs in Canada and Azerbaijan.
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