M&A
confidence high
sentiment neutral
materiality 0.80
Gran Tierra to acquire i3 Energy for cash and stock; implied value 13.92p/share
GRAN TIERRA ENERGY INC.
- Each i3 Energy share gets 1 new Gran Tierra share per 207 shares plus 10.43p cash.
- Acquisition implied value of 13.92p per i3 share; expected close in Q4 2024.
- Gran Tierra secured £80M loan facility from Trafigura at SOFR+300bps (first 3 months), then +600bps.
- Irrevocable undertakings received from holders of ~25% of i3 shares (incl. CFDs) supporting the deal.
- Gran Tierra shares trade under GTE on NYSE American, TSX, and LSE.