Gran Tierra Energy Acquires i3 Energy in £175 Million Deal

Oil producer Gran Tierra Energy has announced a £175m deal to acquire its London-listed peer i3 Energy. Under the terms of the deal, which was announced in the early hours of this morning, Gran Tierra said it would offer one new Gran Tierra share for every 207 i3 Energy shares held as well as 10.43p per share in cash per i3 Energy share. Each shareholder will also be in line to receive 0.2564p in lieu of a dividend that had already been announced. Once completed, the deal would mean i3 shareholders would own up to 16.5 per cent of Gran Tierra.…