Rubiales Ups Port Investment

Pacific Rubiales has purchased an additional $50m stake in Pacific Infrastructure, it says. The Canadian and Colombia-listed oil company purchased 50m shares at $1.00 per share. The addition follows an initial $38m purchase in March of shares in the Panama-based developer of the Puerto Bahia port complex in Cartagena and a pipeline linking it with Covenas. Pacific Rubiales now holds 44.1% of Pacific Infrastructure, and has the option to purchase $70m more at the same terms.