Alfa, Harbour Energy to acquire Pacific Rubiales for $1.7 billion

May 21, 2015 12:00 AM

Mexican multinational conglomerate Alfa SAB de CV and British energy firm Harbour Energy Ltd. have collaborated to acquire the stock of Pacific Rubiales Energy Corp., Toronto, not already owned by Alfa in a deal valued at about $1.7 billion, excluding debt.

Pacific Rubiales is the largest independent oil and gas producer in Latin America; its shares are also listed in Colombia.

The deal, which is expected to close in this year’s third quarter, has been approved by Pacific Rubiales’ board.

Alfa, which already holds an 18.95% stake in Pacific Rubiales, has businesses in oil and gas, branded foods, aluminum auto components, petrochemicals, information technology, and telecommunications services.

Harbour Energy is an energy investment company held jointly by US private equity firm EIG Global Energy Partners and Asian commodity trader Noble Group Ltd.

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