Mergers & Acquisitions ·
GeoPark issues 42.1M shares to Grupo Gilinski for Venezuelan assets; controlling stake rises to 56.3%
GPRKGeoPark Ltd
GeoPark Limited completed its strategic entry into Venezuela by issuing 42,135,872 common shares to Panamerican Energy Holdings S.A., a member of Grupo Gilinski, in exchange for the remaining 95% interest in the CPP holding company. This transaction grants GeoPark full ownership and operatorship of the Bare Block under a new 25-year Production Participation Contract with PDVSA Petróleo S.A. Following the issuance, Grupo Gilinski holds approximately 56.3% of GeoPark’s outstanding shares, becoming the controlling shareholder. The deal was funded entirely through equity consideration, preserving liquidity. Additionally, Grupo Gilinski is required to initiate a tender offer for up to $100 million at $12.22 per share within 90 days. GeoPark operates as an independent energy company focused on oil and gas exploration and production across Latin America.