Ashurst advises Gran Tierra on £174.1 million recommended takeover of i3 Energy
21 August 2024
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21 August 2024
Pursuant to the terms of the acquisition, i3 Energy shareholders will be entitled to receive one new share in Gran Tierra for every 207 i3 Energy shares held and 10.43 pence cash per i3 Energy share held, valuing the entire issued and to be issued share capital of i3 Energy at £174.1 million. In addition, i3 Energy shareholders are entitled to receive a cash dividend of 0.2565 pence per i3 Energy Share in lieu of the ordinary dividend in respect of the three month period ending 30 September 2024.
It is intended that the acquisition will be implemented by means of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006.
The Ashurst team is being led by M&A partners Tom Mercer and Harry Thimont with senior associates Maria McAlister and Aimee Carroll-Hewitt and associates Rebekah Oakes and Lucy Mclaughlan. They are being supported by trainee solicitors Nicolas Laczny and Amelia Howison and solicitor apprentice Faiza Zakaria. Global Resources partner Quentin Robinson is providing sectoral advice along with associate Will Morgan and advice on acquisition financing is being provided by partner Tim Rennie and senior associate Sarah Curry along with trainee solicitor Kelsey Reid-Jones. Employment advice was provided by counsel Liz Parkin and associate Emily Bodger with incentives input from counsel John Papadakis.