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Colombia's power generator Celsia seeks to increase majority stake in EPSA Energia del Pacifico




By Reuters

Petroleumworld 01 29 2018

Colombian electricity generator Celsia SA ESP said on Friday it wants to purchase up to 14 percent of Empresa de Energia del Pacifico (EPSA) for about 917 billion pesos ($329.6 million) in a bid to increase its majority stake in the company.

Celsia will take offers from Feb. 5-16 and buy up to 48.5 million shares at 18,900 pesos per share, it said in a statement to the financial regulator.

Celsia, which is part of Grupo Argos, already owns 50.01 percent of EPSA, while Argos itself owns 11.86 percent.

$1 = 2,783.13 Colombian pesos

Reporting by Nelson Bocanegra and Julia Symmes Cobb; editing by Grant McCool from Reuters 01 26 2018

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