Second Commission of Medellin Council approves EPM sale of Isagen shares
Comisión segunda del Concejo de Medellín aprueba venta de acciones de EPM en Isagen
Intel ID : 234680
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Second Commission of Medellin Council approved, in the first debate, the draft agreement on the sale of a stake in Isagen (BVC: ISAGEN), held by Empresas Publicas de Medellin (EPM), as published by El Colombiano on 12 March 2016. With 5 votes in favor and 2 against, the Second Commission appealed and approved the discussion on Draft Agreement to sell EPM's stake in Isagen, which had not been approved by the First Commission, and that on March 13 will pass on to a second debate at Company's Plenary Session. (See related Intel) Canadian investment fund Brookfield Asset Management (TSX: BAM.A, NYSE: BAM, Euronext Amsterdam: BAMA), a majority shareholder of ISAGEN, after the acquisition of 57.61% of the capital (see related transaction), could acquire 13% of the shares held by EPM. To acquire these shares, it will have to launch a takeover bid over the shares it does not hold in ISAGEN. The first offering is scheduled for March 22, 2016.
(content in spanish)
La Comisión Segunda del Concejo de Medellín ha votado positivamente en el primer debate del proyecto de acuerdo sobre la venta de la participación accionaria de Empresas Públicas de Medellín (EPM) en Isagen (BVC:ISAGEN), según ha informado El Colombiano el 12 de marzo de 2016. Con 5 votos a favor y 2 en contra, la Comisión Segunda del Concejo de Medellín ha apelado y aprobado el debate del Proyecto de Acuerdo sobre la venta de la participación accionaria de EPM en Isagen que anteriormente no ha sido aprobada por la Comisión Primera del Concejo de Medellín y que el día 13 de marzo pasará a segundo debate en la Plenaria de la Corporación. (Ver Intels relacionados) El fondo de inversión canadiense Brookfield Asset Management (TSX:BAM.A, NYSE:BAM, Euronext Amsterdam: BAMA), accionista mayoritario de Isagén tras la adquisición del 57,61% de la empresa (ver transacción relacionada), podría ser el comprador del 13% de acciones que tiene EPM. Para adquirirlas, deberá lanzar una OPA sobre la participación que no controla en Isagén. La primera oferta está programada para el 22 de marzo de 2016. |
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Financial Data - ISAGEN
(31 Dec 2015) |
Revenue: EUR 824,22m EBITDA: EUR 341,73m Exchange Rate:
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25.01.01 Asset Management 25 Financial Services / 25.01 Banking & Investment |
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20.04.04 Hydro Power 20 Energy & Utilities / 20.04 Renewable Energy |
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20.04.03 Geothermal 20 Energy & Utilities / 20.04 Renewable Energy 20.04.08 Solar Power 20 Energy & Utilities / 20.04 Renewable Energy 20.04.09 Wind Power 20 Energy & Utilities / 20.04 Renewable Energy |
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20.03.05 Electric Utilities 20 Energy & Utilities / 20.03 Power Generation & Electric Utilities |
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20.03.10 Power Transmission & Distribution 20 Energy & Utilities / 20.03 Power Generation & Electric Utilities 20.05.01 Sewage Treatment 20 Energy & Utilities / 20.05 Water Services |
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Legend:
Verified: Confirmed as a party to an active or possible transaction.
Potential: Unconfirmed as a party to an active or possible transaction.
Retained: Confirmed as “Retained” with a general or specific mandate.
Prospect: Advisory “Prospect” in discussions with or pitching services to possible client.
Transactional data is continuously updated by the research team and therefore is subject to change.