[ad_1]
After President Iván Duque made a nod on Friday to the idea that Ecopetrol would buy 51.5 percent of Interconeccin Eléctrica SA (ISA), a percentage that could add up to just over 14 billion pesos, the Ministry of Finance took a key step for the oil company to consolidate this proposal in the first half of the year.
Indeed, EL TIEMPO learned that this same Friday the Minister of Finance, Alberto Carrasquilla, sent a letter to the president of Ecopetrol, Felipe Bayón, in which he expresses his agreement with the signing of an exclusivity contract so that the oil company can perfect this offer “during the first semester of the year under the figure of an Inter-administrative Contract”, according to the text of the letter
It may interest you: The shaking after Ecopetrol’s offer for control of ISA
Noting that he receives with “great interest the offer of the reference, which is part of the strategy of optimization and use of assets of the Nation”, Minister Carrasquilla made clarifications regarding the materialization of the purchase offer for control of ISA by Ecopetrol.
“Although the proposed price range may be reasonable, the Government reserves the right to propose adjustments to it, subject to the results of the valuation and due diligence process carried out in parallel with Ecopetrol“, says one of the sections of the communication.
Download the letter from Minister Carrasquilla by clicking on the following link:
The letter concludes by saying that the Ministry will be communicating with Bayón in the coming days “to finalize the exclusivity agreement, formalize the start of detailed due diligence by Ecopetrol, and define next steps.
In parallel, this Friday night the Grupo Energía Bogotá (GEB), the other clear bidder who wants to compete for the majority shareholding of ISA, informed the market, through the Financial Superintendency, that its board of directors, in its session 1649 of February 5, authorized the GEB legal representative to present a non-binding offer for 51.4 percent of the participation that the Nation – Ministry of Finance and Public Credit owns in Intercone Conexion Eléctrica SA ESP – ISA.
For now it is not clear if the GEB will be able to compete simultaneously with Ecopetrol in the presentation of the offer, or if the acceptance by the Government, to which Ecopetrol made and the intention to sign the exclusivity with the state majority oil company, implies that the other interested parties will no longer be able to make your offers.
ECONOMY AND BUSINESS – WEATHER
Find also in Economics:
These are the profiles of the Ecopetrol youth call
Fox and powerful brands from Colombia and the world that said goodbye
The Cnsc reported that Dian’s job call was resumed
