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Frontera Energy Corp T.FEC

Alternate Symbol(s):  FECCF

Frontera Energy Corporation is a Canada-based oil and gas company. The Company is involved in the exploration, development, production, transportation, storage, and sale of oil and natural gas in South America, including related investments in both upstream and midstream facilities. The Company has a diversified portfolio of assets with interests in 27 exploration and production blocks in Colombia, Ecuador, and Guyana, and pipeline and port facilities in Colombia. The Company’s segments include Colombia, Ecuador, Guyana, Midstream Colombia, and Canada & Others. Colombia includes all upstream business activities of exploration and production in Colombia. Ecuador includes all upstream business activities of exploration and production in Ecuador. Guyana includes exploration and infrastructure. Midstream Colombia includes the Company’s investments in pipelines, storage, port, and other facilities relating to the distribution and exportation of crude oil products in Colombia.


TSX:FEC - Post by User

Post by kcac1on May 26, 2024 3:52pm
182 Views
Post# 36058126

Why did FEC hire CITI and Goldman Sachs to explore a sale?

Why did FEC hire CITI and Goldman Sachs to explore a sale?

Frontera Energy, a Toronto-based oil and gas company, hired both Citi and Goldman Sachs to explore a potential sale1. This is a common practice in the business world, especially for transactions of significant size or complexity. Here are a few reasons why companies might choose to work with multiple banks:

  1. Expertise: Different banks may have different areas of expertise. For example, one bank might have a strong track record in the energy sector, while another might be known for its ability to find buyers in certain geographical markets.

  2. Network: Banks have extensive networks of potential buyers. By hiring multiple banks, a company can potentially reach a larger pool of potential buyers.

  3. Negotiation Power: Having more than one bank can create competition among potential buyers, potentially leading to better terms for the seller.

  4. Risk Management: Engaging multiple banks can also spread the risk. If one bank’s efforts do not result in a satisfactory deal, the other bank might still be able to deliver.

Please note that these are general reasons and the specific reasons for Frontera Energy’s decision could be different and are likely based on a variety of factors specific to their situation. For the most accurate information, I recommend reaching out to Frontera Energy or the involved banks directly.

 

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