Gran Tierra Energy Inc. announced on October 9, 2026, that its stockholders have approved the previously announced sale of the company’s Colombian and Ecuadorian businesses to Maurel & Prom. The transaction, valued at approximately US$1.33 billion including the assumption of debt, is governed by a Share Sale and Purchase Agreement entered into on August 5, 2026.
The approval was secured during a special meeting of stockholders held on October 9, 2026. According to the final report of the independent inspector of election, 19,351,115 shares were voted in favor of the sale proposal, representing 54.81% of the issued and outstanding shares entitled to vote.
Gran Tierra anticipates receiving total net cash proceeds of approximately US$315 million from the transaction. The company expects to receive approximately US$250 million upon closing and a further US$65 million 364 days after closing. The company stated that upon completion of the sale, it expects to be debt-free.
With stockholder approval and the requisite consents of the holders of the company’s 9.750% Senior Secured Amortizing Notes due 2031 now obtained, the remaining conditions to closing include regulatory approvals in Colombia and Ecuador. Gran Tierra continues to target closing the sale on or about December 31, 2026.
Following the completion of the sale, the company’s operations are expected to be focused on Canada and Azerbaijan, where it holds a 65% working interest in an onshore exploration, development and production sharing agreement. The company also indicated that a portion of the net cash proceeds may be used to return capital to stockholders through a share repurchase, subject to Board approval and the completion of the sale.
