Estrella Intl Down About 6% on Acquisition of Petroland, Zigma
Estrella International Energy Services (EEN.V) fell by about 6% after announcing that it has renegotiated the final business terms to complete the acqusition of 100% of the issued and outstanding shares of each Petroland SAS and Zigma Colombia Petroleum Services S.A.
The company said the purchase price for the acquisition is approximately US$10.7 million and the assumption of approximately US$13.5 million of debt, some of which it may decide to repay at the time or shortly after consolidation.
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