Prime Infra Buys Carlyle’s Colombian Driller Before Election

Philippines’ Prime Infrastructure Capital Inc. agreed to buy Colombia’s biggest independent oil producer from Carlyle Group, ahead of presidential elections that could reshape the country’s energy policy.

The acquisition of SierraCol Energy Ltd. is subject to regulatory approvals and is expected to close within a month, the companies said Wednesday, without disclosing terms. SierraCol holds interests in the Caño Limón and La Cira Infantas oil fields.