Apco completes merger with Pluspetrol Black River

Apco Oil and Gas International Inc. (NASDAQ:APAGF) has completed its merger with Pluspetrol Black River Corp., a wholly owned subsidiary of Pluspetrol Resources Corp., in an all-cash transaction with an equity value of approximately $427 million.

In connection with the transaction, Apco will be delisted from the NASDAQ Global Select Market and will terminate its registration and reporting obligations with the Securities and Exchange Commission.

The transaction was approved by Apco’s shareholders on Jan. 26. Pursuant to the terms of the merger agreement, Apco shareholders will receive $14.50 in cash for each share of Class A and ordinary shares they own.

Jefferies served as the exclusive financial advisor to Apco in connection with the transaction. Weil, Gotshal and Manges LLP acted as legal advisors to Apco, and Maples and Calder served as Apco’s special Cayman Islands counsel. Cleary Gottlieb Steen and Hamilton LLP acted as legal advisors to Pluspetrol Resources Corp. and Appleby served as Pluspetrol Resources Corp.’s special Cayman Islands counsel.

Apco Oil and Gas International Inc. is an international oil and gas exploration and production company with interests in nine oil and gas concessions and two exploration permits in Argentina, and three exploration and production contracts in Colombia.

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