Herbert Smith Freehills Kramer advises Maurel & Prom on the acquisition of Gran Tierra’s assets in Colombia and Ecuador

Herbert Smith Freehills Kramer has advised Etablissements Maurel & Prom S.A. (M&P), an oil and gas company listed on Euronext Paris, on the signing of a Share Purchase Agreement for the acquisition of Gran Tierra’s assets in Colombia and Ecuador, for a total transaction value of US$1.33 billion.

The transaction covers all of Gran Tierra’s exploration and production assets in both countries, including producing fields, development projects and exploration licences. It represents a major strategic milestone for Maurel & Prom, significantly strengthening its presence in Latin America.

The total transaction value amounts to US$1.33 billion, including the assumption of certain debt instruments, including senior notes and a US$350 million prepayment facility entered into with Trafigura.

Completion of the transaction remains subject to obtaining the required regulatory approvals in Colombia and Ecuador and is expected to occur by the end of 2026.

Herbert Smith Freehills Kramer acted as legal counsel to Maurel & Prom on the corporate, energy, financing and tax aspects of this cross-border transaction.

The Herbert Smith Freehills Kramer team was led by partner Nina Bowyer on the Energy aspects.

The Paris team also included:

• Projects, Energy & Infrastructure: Amélie Dugast, Hennie Lui and Ayah Al-Sharari (associates), and Tendo Sebuyira (trainee solicitor);
• Corporate: Laurence Vincent (partner) and Nicolas Pegou (associate);
• Tax: Bruno Knadjian (partner) and Margaux Constantes (associate).

The international teams also included:

• Corporate (New York): Danielle MacGillivray (partner);
• Finance & Restructuring (New York): Edward Dougherty (partner) and Maria Falcao de Andrade (associate);
• Finance & Restructuring (London): Gabrielle Wong (partner), Alexander Yeagley (senior associate) and Monsiree Jirasarunya (consultant).

Maurel & Prom was also advised by Robalino Abogados on Ecuadorian law matters and by Chalela I Abogados S.A.S. on Colombian law matters. The seller was advised by Bracewell.