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Grupo Argos to sell stake in Colombian EPSA [free access]

February 15, 2018

Colombian conglomerate Grupo Argos is selling its 100 per cent stake in Colombian electricity company Empresa de Energia del Pacifico S.A. E.S.P. (EPSA) to its unit Celsia S.A. E.S.P.


Currently, Celsia owns 50.4 per cent stake in EPSA through its 100 per cent-owned subsidiary Colener S.A.S.


Celsia, on January 24, received approval from the Financial Superintendence of Colombia (Superfinanciera) to formulate a Oferta Pública de Adquisición (OPA) or Public Offer of Acquisition to increase its share in EPSA. Under the OPA, Celsia will issue 350 million ordinary shares, equivalent to USD1.4 billion, to increase its participation in EPSA by 14 per cent and make other investments.


For Grupo Argos, the stake sale will allow the company to optimise and strengthen its structure as a holding and increase visibility on its investment in the energy business.


The last date for the closing of the subscription period of the stock is February 23, 2018.