Colombia delays Electricaribe’s auction

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Colombia’s National Government has postponed the auction until February 2020.

The bids deadline, previously established on November 25th, has now been delayed until February 20th, 2020. Besides, the three auctions planned for December 3rd, 6th and 12th, will now take place on February 26th and 28th.

This rescheduling is due to the declaration of unenforceability of the Financing Law by the Constitutional Court, which could negatively affect the value of the transaction. The total variation of the value could amount to COP500 billion (US$146 million).

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