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BRIEF-Vista Oil & Gas To Acquire Argentine Oil & Gas Assets

Published 2018-02-19, 10:53 p/m
© Reuters.  BRIEF-Vista Oil & Gas To Acquire Argentine Oil & Gas Assets

Feb 19 (Reuters) - Vista Oil & Gas -

* VISTA OIL & GAS TO ACQUIRE ARGENTINE OIL & GAS ASSETS

* AGREED TO ACQUIRE FULLY OPERATIONAL OIL & GAS PLATFORM FROM PAMPA ENERGÍA, PLUSPETROL

* RIVERSTONE VISTA TO ACQUIRE ADDITIONAL 5 MILLION SERIES A SHARES FOR $50 MILLION PURSUANT TO PURCHASE AGREEMENT ENTERED INTO AT TIME OF CO'S IPO

* ALSO ENTERED INTO COMMITMENT LETTER FOR CREDIT FACILITY, OF UPTO $300 MILLION, THAT MAYBE USED AS BACKSTOP FOR INCREASING CERTAINTY OF CLOSING DEAL

* CERTAIN OTHER INVESTORS, HAVE ALSO AGREED TO BUY 10,000,000 SERIES A SHARES OF VISTA, FOR AN AGGREGATE PURCHASE PRICE OF US$100 MILLION

* UPON CLOSING, VISTA'S ENTERPRISE VALUE AT $10/SHARE WOULD BE APPROXIMATELY $860 MILLION AND AN EQUITY VALUE OF US$960 MILLION

* THE AGREEMENTS, IN CONJUNCTION WITH $650 MILLION IPO PROCEEDS, BRINGS TOTAL EQUITY AVAILABLE TO FUND TRANSACTION TO $800 MILLION

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