Seeking Alpha

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)
  • 2839298249
    , contributor
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    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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