Colombian companies headed by Grupo Energía de Bogotá and Corficolombiana agreed to purchase investments in Peru and Colombia with AEI
Bogotá, Colombia, 19 January 2011
Investments correspond to shares AEI has in the Peruvian company Gas Natural de Lima y Callao S.A. (“Cálidda”) and the Colombian company Promigas S.A. E.S.P. (“Promigas”).
Investments of Grupo Energía de Bogotá in those countries amounts to US$350 million.
In Colombia the negotiation will be performed by two Colombian investment funds and Corficolombiana.
Bogotá D.C., 19 January 2011. Within the objective of progressing in positioning the company, locally and internationally in the natural gas transport and distribution business, Grupo Energía de Bogotá, through Empresa de Energía de Bogotá, reached an agreement to buy the investments that AEI holds in Cálidda (Peru) and Promigás (Colombia), the latter, jointly with other Colombian companies.
The operation in Peru implies the acquisition, on behalf of Grupo Energía de Bogotá, of AEI Peru Holdings Ltd., which holds 60% of Cálidda shares, which corporate purpose is the distribution of natural gas in the Department of Lima and Provincia Constitucional del Callao.
In Colombia, the negotiation will be performed by Grupo Energía de Bogotá, Corficolombiana and two investment funds, with the purchase of AEI Promigas Ltd., AEI Promigas Holdings Ltd. and AEI Promigas Investments Ltd., who jointly hold 52,13% of the Colombian company Promigas. By virtue thereof, Grupo Energía de Bogotá, indirectly, will hold 15,6% of Promigas.
Upon completing the transaction, Corficolombiana and Grupo Energía de Bogotá will begin a joint process of a Public Offer of voluntary acquisition of up to 100% of Promigas' outstanding shares at a price in Colombian pesos, which will equal the acquisition price.
The investment of Grupo Energía de Bogotá in the two countries will amount to US$350 million, with which the company ratifies its strength, soundness and ability to generate shareholder value with significant operations in the energy sector in Latin America.
About Grupo Energía de Bogotá
Grupo Energía de Bogotá is a leading corporation in the Colombian energy sector. Through EEB it transports electricity to a market enjoying one of the largest demands in the country and greatest in size. In addition it has control of the major natural gas carrier in the country, TGI S.A. In Perú, its company CONTUGAS has a 30 year concession for the transportation and distribution of natural gas in the Ica Department, while CALIDDA is in charge of distributing natural gas in Lima and Callao. In that same country, ISA, participates in REP S.A. and TRANSMANTARO S.A., which operate 63% of the electricity transmission system in the country. In 2010, it incorporated TRECSA - Transportadora de Centroamérica S.A.- that will build the most important energy infrastructure project in Guatemala and will render electricity transmission services as of 2013. Furthermore, it holds a portfolio of significant investments in large companies in the energy sector, amongst which the following stand out CODENSA S.A., EMGESA S.A., GAS NATURAL S.A., Empresa de Energía de Cundinamarca - EEC and Electrificadora del Meta, EMSA and in a lesser scale ISA and ISAGEN.