Amerisur Resources continues to negotiate potential takeover
Abraham Darwyne
Company News - 2 min read
13:35, 9th August 2019

Amerisur Resources (AMER) FOLLOW, the Colombian oil and gas operator with extensive acreage in the Putumayo Basin, urged investors to hold their shares until the completion of its formal sales process which it started in July.

The company put the company up for sale after receiving interest in the company and its assets from “other industry participants”, sparking it to begin a strategic review and formal sales process.

The company rejected a USD260 million proposal from France's Etablissements Maurel & Prom SA in July. The company was valued at approximately £230 million on Friday.

Shares were trading 7% higher at 17p each late afternoon Friday. Shares in Amerisur in 2014 were trading as high as 64.5p.

The company told investors that multiple parties have signed a confidentiality agreement and are participating in the formal sales process.

By participating the companies interested have access to confidential due diligence and to Amerisur management.

Amerisur told investors that it will provide further updates as appropriate and are reviewing a way to maximise value for shareholders.

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The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.

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