Pacific Rubiales to sell Columbian pipeline and power assets for $320 mln
Canadian oil and gas company Pacific Rubiales Energy Corp (TSX: PRE) has agreed to sell a portion of its Columbian pipeline and power transmission assets for US$320 million. A group of investors, which include International Financial Corp, a member of the World Bank Group, and IFC Global Infrastructure Fund, which is managed by U.S.-based IFC Asset Management Co, will acquire 43 percent of Pacific Rubiales' subsidiary Pacific Midstream Ltd. Pacific Rubiales will receive US$240 million in cash by year's end, US$80 in early 2015, and an additional US$60 million to develop future infrastructure projects.
17 December 2014•5 mins read
