EY Peru acted for energy company Gran Tierra on the sale of Sterling, an indirect subsidiary managing its Peruvian assets.
Gran Tierra Energy is an independent international energy company focused on oil and natural gas exploration and production in Colombia. It is listed in the NYSE and the Toronto Stock Exchange.
The buyer, PetroTal is a Houston-based oil and gas company focused on oil and gas assets in Latin America.
The deal, organised as a reverse takeover, will see Sterling and PetroTal combined under the name Sterling Resources with a pro forma net cash position of approximately $40 million and 100% working interest in Block 95 which includes Bretaña, one of the largest undeveloped discoveries in Peru.
Fernando Tori and Edwin Sarmiento led the team at EY Peru which advised Gran Tierra.
PetroTal instructed Dentons while Sterling retained Miranda & Amado.