Mergers & Acquisitions ·
GeoPark issues 42.1M shares to Grupo Gilinski for Venezuela CPP; Gilinski to launch $100M tender offer
GPRKGeoPark Ltd
GeoPark completed its strategic entry into Venezuela by issuing 42,135,872 common shares to Panamerican Energy Holdings S.A., a subsidiary of Grupo Gilinski. This equity consideration secured the remaining 95% interest in the CPP Holdco, granting GeoPark operatorship and a 65% net participating interest under a new 25-year Production Participation Contract for the Bare Block. Following the issuance, Grupo Gilinski holds approximately 56.3% of GeoPark’s outstanding shares, becoming the controlling shareholder. The transaction preserves GeoPark's liquidity as no cash was paid. Additionally, Grupo Gilinski is required to initiate a tender offer within 90 days to acquire up to $100 million worth of remaining shares at $12.22 per share. GeoPark expects to begin financial consolidation upon operational takeover before year-end 2026. The company operates as an independent energy producer focused on oil and gas exploration and production in Latin America.