Bloomberg: Pacific Rubiales exploring strategic options

Pacific Rubiales Energy (PEGFF) is working with Bank of America to review its strategic options and could lead to the sale of the company, according to a Bloomberg report.

The review reportedly includes defense advisory, market analysis and the sale of midstream assets; Repsol (REPYF, REPYY) is said to have considered an acquisition of Pacific within the past year though it decided for the time being not to pursue a deal, and the two companies held exploratory talks last year about potential joint ventures in Colombia, Venezuela and Mexico.

Comments (1)
  • Maobama
    , contributor
    Comments (508) | Send Message
    Truly amazing stock underperformance. The first time in the history of modern finance that a company puts itself up for sale and the stock declines 2.50%. This company is a gigantic disappointment for anyone who has bought over the last 12-18 months.
    24 Mar 2014, 02:03 PM Reply Like
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