August deadline for sale of Isagen stake

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
August deadline for sale of Isagen stake

The Colombian government plans to sell its 57.6% stake in Isagen, a mixed public utility company that generates and sells electrical energy in Colombia.

Colombian state-run utility Empresas Publicas de Medellin (EPM) plans to maintain its own 13% in the firm. EPM requested on 28 July a permit to prepare for negotiations with the investor that will buy the state's stake.

The local power producer owns and operates six electricity generators in the departments of Antioquia, Santander, Caldas and Tolima, which produce 14.5% of Colombia’s energy.

The firm has an installed capacity of 2,212 MW, including hydropower plants of 1,912 MW. The firm is also developing a 820 MW hydroelectric project.

Isagen’s most recent shareholder report announced that the firm has a net profit of US$233.9 million in 2013.

The Colombia's government plans to close the transaction at an auction on August 22nd. The bidders can submit offers from today until mid August.

According to source, the companies competing are, among others:

According to the Colombian government the 57.6% stake Isagen could have a total value of US$2.7 million. The government plans to invest the money raised in the sale process in roads and infrastructure projects.

List of country news

Country news

  • August 15, 2014

    PetroNova appoints new Director

    PetroNova Inc., a company engaged in the exploration and development of oil and natural gas resources in Colombia, today announced that at the recommendation A.V. Securities Inc., the finder of PetroNova's previously announced $8 million private placement, it has appointed Marcel Apeloig to serve as a Director of the company. Read more
  • August 20, 2014

    GDF SUEZ signs agreement to sell energy assets in Panama and Costa Rica

    GDF SUEZ announces that it has signed an agreement for the sale of its assets located in Panama and Costa Rica to Celsia, a Colombian company. Read more
  • December 19, 2014

    IFC leads $380 million investment in Pacific Midstream

    IFC and a consortium of investors led by IFC, including the IFC Global Infrastructure Fund, will invest $320 million in Pacific Midstream Ltd., a growing company that will play an important role in Colombia’s efforts to improve its oil and gas pipeline network. Read more
  • January 14, 2015

    WSP Global acquires Dessau CEI engineering firm

    WSP Global Inc. has acquired Dessau CEI S.A.S, Dessau International Inc.’s Colombian engineering subsidiary active in transportation and oil & gas sectors. Read more
  • March 10, 2015

    Colombia restarts sale of electricity public firm Isagen

    The Colombian government will restart the sale of its 57.6% stake in Isagen, a mixed public utility company that generates and sells electrical energy in Colombia. Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.