Apco Completes $470 Mln Merger

(Apco Oil and Gas International Inc., 29.Jan.2015) – Apco Oil and Gas International Inc. completed its merger with Pluspetrol Black River Corporation, a wholly-owned subsidiary of Pluspetrol Resources Corporation, in an all-cash transaction with an equity value of approximately $427 million.

In connection with the transaction, Apco will be delisted from the NASDAQ Global Select Market and terminate its registration and reporting obligations with the Securities and Exchange Commission.

As previously announced, the transaction was approved by Apco’s shareholders at an extraordinary general meeting of shareholders held on January 26, 2015. Pursuant to the terms of the merger agreement, Apco shareholders will receive $14.50 in cash for each share of Class A and ordinary shares they own.

Holders of certificated Apco shares will receive a letter of transmittal and instructions on how to surrender their share certificates of Apco in exchange for the merger consideration and should wait to receive the letter of transmittal and instructions before surrendering their share certificates.

Jefferies served as the exclusive financial advisor to Apco in connection with the transaction. Weil, Gotshal and Manges LLP acted as legal advisors to Apco and Maples and Calder served as Apco’s special Cayman Islands counsel.

Cleary Gottlieb Steen and Hamilton LLP acted as legal advisors to Pluspetrol Resources Corporation and Appleby served as Pluspetrol Resources Corporation’s special Cayman Islands counsel.

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