-
Categories
-
Pharmaceutical Intermediates
-
Active Pharmaceutical Ingredients
-
Food Additives
- Industrial Coatings
- Agrochemicals
- Dyes and Pigments
- Surfactant
- Flavors and Fragrances
- Chemical Reagents
- Catalyst and Auxiliary
- Natural Products
- Inorganic Chemistry
-
Organic Chemistry
-
Biochemical Engineering
- Analytical Chemistry
-
Cosmetic Ingredient
- Water Treatment Chemical
-
Pharmaceutical Intermediates
Promotion
ECHEMI Mall
Wholesale
Weekly Price
Exhibition
News
-
Trade Service
According to news from the rig belt on August 12, the National Petroleum Corporation of Colombia (Ecopetrol) and the Ministry of Finance have signed a US$3.
6 billion agreement to acquire the transmission company Interconexion Electrica SA, or ISA for short
.
According to a regulatory document, Ecopetrol agreed to buy at a price of 25,000 pesos ($6.
3) per share, a 16% premium to Wednesday’s closing price of 21,500 pesos
.
The contract will purchase 569,472,561 shares, equivalent to 51.
Finance Minister Jose Manuel Restrepo said at a press conference in Bogotá that the price is at the “upper limit” of the valuation range
.
Ecopetrol CEO Felipe Bayon said that although the transaction needs to be completed before December 6, it may be completed within 3 to 4 weeks
Bayon said the acquisition will accelerate the transformation of Ecopetrol's business model
.
Although oil and gas will remain the company's core business, as the world gradually moves away from hydrocarbons, Ecopetrol's goal is to reduce carbon emissions, invest in renewable energy, and add new business lines
ISA, headquartered in Medellin, operates transmission lines and toll roads in Latin American countries
.
ISA's stock price has fallen 16% this year, while the Colombian benchmark Colcap Index has fallen 13%
According to Restrepo, Colombia will use the funds for this year's budget
.
He said the government will pay in U.
