Pacific E&P confirms negotiations with The Catalyst Group for restructuring
Pacific E&P confirma negociaciones con The Catalyst Group para su restructuración
Intel ID : 235577
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Pacific Exploration & Production (TSX:PRE; BVC:PREC), a Canada-based oil company, confirmed it is in talks with its creditors and The Catalyst Group, a Canada-based private equity firm, to draw up a restructuring plan, announced the company in a press release issued on 14 April, 2016. Specifically, the company explained that, after carrying out a process of requesting proposals in the last few months, the board decided to negotiate an agreed restructuring with its creditors and The Catalyst Group. The aim of the restructuring will be to reduce debt, improve liquidity, and better position the company in a market with a low price of oil. The interest of the private equity firm was informed in previous reports (see related intel). Prior to that, Pacific had received offers from Mexico-based Alfa (BMV:ALFA) (see related intel).
(content in spanish)
Pacific Exploration & Production (TSX:PRE; BVC:PREC), petrolera canadiense, ha confirmado que está en negociaciones con sus acreedores y The Catalyst Group, firma de private equity canadiense, para formular un plan de restructuración, ha anunciado la empresa en una nota de prensa publicada el 14 de abril de 2016. En concreto, la empresa ha señalado que, tras realizar un proceso de solicitud de ofertas durante los últimos meses, su junta directiva ha decidido negociar una restructuración consensuada con sus acreedores y The Catalyst Group. El objetivo de la restructuración será reducir deuda, mejorar la liquidez y posicionar mejor a la empresa en un mercado con un precio bajo del petróleo. El interés de la firma de private equity ha sido informado con anterioridad (ver intel relacionados). Previamente, Pacific también había recibido ofertas de la mexicana Alfa (BMV:ALFA) (ver intel relacionados). |
Relevant Documents
| Press Release | 14 Apr 2016 | Pacific_EP_Nota_de_Prensa_2016.pdf | ES |
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| Press Release | 14 Apr 2016 | Pacific_EP_Press_Release_2016.pdf | EN |
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| Intel ID | 235577 | |||
| Value | ND | |||
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Canadian Dollar (CAD)
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Financial Data - Pacific Exploration & Production
(31 Dec 2013) |
Revenue: EUR 3.153,74m Exchange Rate:
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25.01.09 Private Equity 25 Financial Services / 25.01 Banking & Investment |
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20.02.02 Multiline Oil & Gas 20 Energy & Utilities / 20.02 Oil, Gas & Consumable Fuels |
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25.04.03 Holding Companies / Financial Holding Companies 25 Financial Services / 25.04 Other Financial Services |
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15.07.03 Dairy Products 15 Consumer Products & Services / 15.07 Food 15.07.09 Processed & Packaged Foods 15 Consumer Products & Services / 15.07 Food 20.02.05 Oil & Gas Exploration & Production (Upstream) 20 Energy & Utilities / 20.02 Oil, Gas & Consumable Fuels 55.02.05 Plastics 55 Raw Materials & Natural Resources / 55.02 Chemicals 55.06.04 Synthetic Textiles 55 Raw Materials & Natural Resources / 55.06 Textiles, Fibers & Related Materials 60.02.01 Integrated Communication Services 60 Telecommunications / 60.02 Telecommunications & Networking Services |
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Legend:
Verified: Confirmed as a party to an active or possible transaction.
Potential: Unconfirmed as a party to an active or possible transaction.
Retained: Confirmed as “Retained” with a general or specific mandate.
Prospect: Advisory “Prospect” in discussions with or pitching services to possible client.
Transactional data is continuously updated by the research team and therefore is subject to change.