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Colombia gets 7 offers for majority stake in power company Isagen
March 28, 2014 / 1:50 PM / in 4 years

Colombia gets 7 offers for majority stake in power company Isagen

BOGOTA, March 28 (Reuters) - Colombia received seven offers from local and international companies to purchase a majority stake in the nation’s third-biggest electricity generator, state-owned Isagen, the finance ministry said late on Thursday.

The government received two offers from U.S.-based Duke Energy, and one each from China Haudian Corporation, Generco, Spain’s Gas Natural, Brazil’s Companhia Energetica de Minas Gerais, Cemig and Empresa de Energia de Bogota.

The government is seeking 5 trillion pesos ($2.5 billion) for its 57.6 percent stake. Isagen owns and operates six electricity generators in the Colombian provinces of Antioquia, Santander, Caldas and Tolima.

The government has said it plans to use the proceeds of the sale for investment in infrastructure after a new administration takes office in August 2014.

Those offers that meet the government’s financial and technical requirements will be able to take part in an auction on May 8, the statement said. (Reporting by Helen Murphy and Nelson Bocanegra; Editing by Alden Bentley)

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