EEB divestment plan hits a snag

EEB divestment plan hits a snag

Colombia Equity M&A

Empresa de Energia de Bogota (EEB) hit a snag this week, after closing the initial period surrounding the sale of its shares in Promigas, ISA, Banco Popular and Nutresa after no one offered to buy the stock. Under Colombian law, the energy company first offered the shares to government employee pension funds at a minimum price, but after receiving no offers, EEB said it declared the tender “deserted.”In June, EEB set out to obtain as much as COP1.1tn ($375m) from the divestments. It set a

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