Court Greenlights Parex’s Purchase of Frontera’s Colombian Upstream Unit

Overview

• Frontera obtained a final order from the Supreme Court of British Columbia approving the plan of arrangement.
• Parex will acquire 100% of Frontera Petroleum International Holdings B.V. for US$500 million in cash, assume US$225 million of net debt, and pay a US$25 million contingent amount.
• The purchase covers Frontera’s Colombian oil and gas assets and includes a reverse osmosis water treatment facility and a palm oil plantation.
• Frontera shareholders already approved the arrangement with 99.95% of votes cast at a special meeting.
• Closing still depends on remaining conditions in the arrangement agreement, and the companies guide to completion in May 2026.