Frontera Energy terminates Pacific Midstream share sale agreement

|About: Frontera Energy Corp (FECCF)|By:, SA News Editor

Frontera Energy (OTC:FECCF) terminates the agreement to acquire 36.4% stake in Pacific Midstream, from International Finance Corporation for $225M.

The company is required to pay $5M to International Finance Corporation, as break fee.

With the termination of the agreement, Frontera will continue own 63.64% stake and International Finance Corporation will hold the remaining 36.36% interest.

Previously: Fronterra agrees to acquire Pacific Midstream (October 2017).

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