AIM-listed Andes Energia has completed the acquisition of the entire issued share capital of Kilwer S.A., a private oil and gas company with producing and exploration assets in Argentina, from local South American investors.
The consideration for the acquisition has been satisfied in part by the issue of 60.7m ordinary shares of 10p per share in Andes, to the vendors of Kilwer, the issue of a $10m convertible bond with a term of five years and an interest rate of 11% per annum and the issue of a $25m bond with a term of 10 years and an interest rate of 11% per annum.
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