Pacific E&P Creditors Said to Gain Bigger Stake Under New Bid

  • Proposal comes from consortium including Chico Pardo, O’Hara
  • Pacific’s independent committee said to make decision Monday

Creditors of Colombia-based oil producer Pacific Exploration & Production Corp. are being offered a larger stake in a restructured company under an eleventh-hour bid from a group that includes Mexican investor Fernando Chico Pardo, according to people who back the offer.

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