EEB will not participate in the sale of shares of the Nation in Isagen
04 March 2015
- EEB keeps its pursuit of business opportunities that contribute to the steady growth the company has had during the last years and to the strengthening its investment plan.
Bogota, D.C., March 4th 2015.EEB, parent company of Grupo Energía de Bogota, decided not to participate in the sale process of ISAGEN shares hold by the Nation, which process was recently reactivated by the National Government.
Among other reasons, EEB established that given the current regulatory framework of the Colombian energy industry, and restrictions of the Superintendency of Industry and Commerce (local antitrust agency), involving the divestment of company’s strategic assets, this operation in not feasible for the company.
EEB keeps its constant pursuit of business opportunities that support the expansion path the company has had in recent years and strengthen its investment plan in the short, medium and long term, not only locally but abroad, in countries such as Peru, Brazil, Mexico, Canada, among others.
Finally, EEB expresses its interest that the Government finalise to fruition this sale process.
About Grupo Energía de Bogotá
Grupo Energia de Bogota is the leading corporation in the Colombian power sector. Through EEB it transports electricity to the most significant markets in terms of demand and size in the country and participates in the distribution of electricity. It controls nine affiliate companies and directly performs the activity of electricity transportation in Colombia, in a market with the highest demand in the country. In the electricity chain in Colombia, it participates in the distribution of electricity via Empresa de Energía de Cundinamarca – EEC. In addition, it controls the largest natural gas carrier in Colombia, TGI S.A with a stake of 47.6% within the market, including an extension of 2957 Kms in gas pipelines services highly populated areas in Colombia such as Bogota, Medellin, Bucaramanga de Coffee Region and Llanos Foothills. In Peru, its company CONTUGAS has a 30-year concession for the transportation and distribution of natural gas in the Ica Department, likewise with its company CALIDDA distributes natural gas in the regions of Lima and Callao. In that same country, together with ISA, it holds stocks in REP S.A. and TRANSMANTARO S.A., which operate 63% of the electricity transmission system in Peru. In 2010, it established TRECSA - Transportadora de Centroamérica S.A.- in charge of building the most important infrastructure Project in Guatemala and will render electricity transmission services as of 2014. Furthermore, GEB holds an investment portfolio in important companies in the electric power sector, in which the following stand out, CODENSA S.A., EMGESA S.A., GAS NATURAL S.A., PROMIGAS S.A. and Electrificadora del Meta - EMSA and to a lesser extent ISA and ISAGEN. As of 2013, the Group renders advisory and engineering services in Guatemala and Peru through its affiliate EEB Ingeniería y Servicios. Also, in 2014 it created the company Empresa de Movilidad de Bogotá SAS E.S.P., affiliate company dedicated exclusively to developing electric power mobility projects.
Jorge Armando Riaño Delgado
External Communications Adviser
Tel. 3268000 ext. 169