Harvest Natural to sell Venezuelan assets, +49% premarket

|About: Harvest Natural Resources, ... (HNR)|By:, SA News Editor

Harvest Natural Resources (HNR) +49.1% premarket after saying it is in exclusive talks to sell its Venezuelan assets to Pluspetrol Venezuela for ~$373M.

HNR says if it can get an agreement and complete the sale of its Venezuelan assets, it plans to spin off its non-Venezuelan assets which would include its stake in Gabon, Indonesia, Colombia and China to HNR shareholders; the spinoff would be run by HNR's current management team.