Gran Tierra Energy (GTE) shareholders have approved the sale of its Colombian and Ecuadorian businesses to Maurel & Prom for about $1.33 billion, including debt, the energy company said late Friday.
Gran Tierra expects to collect about $315 million in cash proceeds, of which a portion will be used for shareholder returns, it said.
The company expects to be debt-free following the sale, expected to close about Dec. 31.
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