facebook
linkedin
twitter
About Us
  • BFSI
  • Energy
  • Infocom
  • Mining
  • Venture
  • Industry
  • Travel
  • Civic
  • Food, Health, Ag
  • Real Estate
  • Responsibility
  • Economy
  • Law & Justice
  • Interview
  • Analysis

After Brookfield Sale, Isagen Seats New Board Of Directors

Posted On February 3, 2016
By : Loren Moss
Comment: Off
Tag: 4g, andres felipe crump, bre colombia investments, Brookfield Asset Management, brookfield renewable energy, BVC:ISAGEN, carlos david castro, colombia, harry goldgut, isagen, jennifer mazin, jerry divoky, jesus arturo aristizabal guevara, jorge humberto botero angulo, juan carlos esguerra portocarrero, luz helena sarmiento villamizar, medellin, NYSE:BAM, Orlando cabrales segovia, plaza mayor, rafael miranda, richard legault, sachin shah, sogamoso, tatyana aristizabal londoño, TSX: BEP.UN; NYSE: BEP, TSX:BAM, TSX:BAM.A

Monday at 10 am, in Medellín’s Plaza Mayór, during a special shareholder’s meeting called by BRE Colombia Investments LP, a new board of directors was seated for Medellín-based Colombian energy producer Isagen. BRE Colombia Investments LP is the majority shareholder of Isagen (BVC:ISAGEN), having purchased the 57.61% of the shares held by Colombia’s national government during an auction last January 22nd in which it was the sole bidder. BRE Colombia Investments LP is controlled by Canada’s Brookfield Renewable Energy Partners (TSX: BEP.UN; NYSE: BEP), which is in turn controlled by Brookfield Asset Management (TSX:BAM, TSX:BAM.A, NYSE:BAM).

Brookfield Renewable Energy Partners L.P. CEO Sachin Shah

Brookfield Renewable Energy Partners L.P. CEO Sachin Shah

Isagen owns and operates a renewable energy portfolio consisting of 3,032 MW of principally hydroelectric generating capacity and a 3,800 MW development portfolio in Colombia. During the meeting, BRE Colombia Investments LP informed the minority shareholders, including several Colombian municipal-owned entities and pension funds that all shareholder questions and inquiries would be answered and a written tender would be offered for outstanding shares in the following days, and published on Isagen’s website. The price offered for the remaining shares will be equal to the auction purchase price of $4,130 COP per share.

BRE Colombia Investments indicated its intent to maintain existing strategic initiatives and projects that Isagen has planned and undertaken. “Our objective is to remain here, to continue contracting with people from here, and to continue fomenting the company’s growth from here, over the next 30 or 40 years, as Isagen is one of the most important energy generators of the country, for that our objective is to protect its market strength,” said Sachin Shah, the head of Brookfield Renewable Energy.

The new board of directors seated consists of the following individuals:

Principal Alternate
Orlando Cabrales Segovia* Jorge Humberto Botero Angulo*
Juan Carlos Esguerra Portocarrero* Luz Helena Sarmiento Villamizar*
Rafael Miranda Jerry Divoky
Richard Legault Sachin Shah
Carlos David Castro Andres Felipe Crump
Harry Goldgut Jennifer Mazin
Jesús Arturo Aristizabal Guevara Tatyana Aristizabal Londoño

* Denotes An Independent Board Member

During the special shareholder’s meeting, new bylaws were also approved, adjusting for the changing of majority ownership from Colombia’s government to private-sector shareholders.

Colombia’s national government sold its shares in Isagen, worth slightly more than $2 billion USD, in order to fund the country’s major highway modernization initiative, called “4G.”

Above photo: Inside Isagen’s Sogamoso Hydroelectric Facility -(courtesy Isagen)

DON'T MISS OUT: The only English-language Colombia news that's strictly business, markets, & investment!
Join global executives & investors by subscribing to our FREE weekly updates
I agree to have my personal information transferred to MailChimp ( more information ) DISCLAIMER: Protección de Datos Personales Artículo 15 de la Constitución Política de Colombia, ley 1581 de 2012 y decreto 1377 de 2013.
We will never spam you or share your email address ¡Nunca Jamás!

Share the news!

  • Facebook
  • Twitter
  • Print
  • WhatsApp
  • LinkedIn
  • Skype

Related

Share your thoughts:

comments

About the Author
Loren Moss is the founder and publisher of Finance Colombia. He has over 20 years of international business experience, including over a decade of experience in securities, insurance, and commercial real estate, at the institutional and international level.
  • google-share
Previous Story

Ecopetrol Forms Offshore Exploration & Production Company While Divesting of Plastics Company

Next Story

Pacific Exploration Gets Another Extension On Liquidity Deadline To February 26, Still In Arrears

Related Posts

Grand Bahamas photo © Loren Moss
0

Bahamas Seeks Air Connectivity With Colombia

Posted On May 18, 2022
, By Loren Moss
Roberto Kriete, avianca's main shareholder and chairman of the Board of Directors.
0

Shareholders Of Viva, Avianca & Gol Announce The Creation Of Abra Group To Dominate South American Skies

Posted On May 11, 2022
, By Loren Moss
Colombia’s attorney general charged Russian national Sergein Vagin and six other people
0

Alleged Russian Spy Charged…With Running A Gambling Mafia

Posted On April 12, 2022
, By Loren Moss




Search

RECENT

POPULAR

COMMENTS

The World’s 50 Best Restaurants today reveals Leonor Espinosa of Leo, Bogotá, as the 2022 winner of The World’s Best Female Chef Award, sponsored by Nude Glass

Colombian Leonor Espinosa Named "World's Best Female Chef"

Posted On May 18, 2022
Grand Bahamas photo © Loren Moss

Bahamas Seeks Air Connectivity With Colombia

Posted On May 18, 2022
Roberto Kriete, avianca's main shareholder and chairman of the Board of Directors.

Shareholders Of Viva, Avianca & Gol Announce The Creation Of Abra Group To Dominate South American Skies

Posted On May 11, 2022
Colombia’s attorney general charged Russian national Sergein Vagin and six other people

Alleged Russian Spy Charged…With Running A Gambling Mafia

Posted On April 12, 2022

Viva Launches Nonstop Routes To Buenos Aires, Argentina From Medellín & Bogotá, Colombia

Posted On April 12, 2022

Romanian Cybercriminal Mihai Ionut Paunescu Captured In Colombia

Posted On June 29, 2021
Photo montage courtesy EPM

EPM’s Board of Directors Resign En Masse, Creating Crisis For Mayor Daniel Quintero

Posted On August 17, 2020

Court Blocks Colombia’s $370 Million USD Emergency Loan To Bankrupt Avianca Airlines

Posted On September 12, 2020

Deadly Riots & Protests Against Police Brutality Break Out Across Colombia

Posted On September 10, 2020

AVIANCA IS BANKRUPT

Posted On May 10, 2020

[…] damn what she said. She and...

Posted On April 4, 2022

[…] by short sellers seeking to...

Posted On March 22, 2022

[…] no longer travel freely...

Posted On March 8, 2022

[…] Duque’s administration will...

Posted On March 8, 2022

[…] See also: 13 Police Injured In...

Posted On March 3, 2022

Watch This!

Consider Advertising With Us

Click here to visit Expat Group's English site

Subscribe Free

don't forget to include "http://"
* = required field
Your Background / Function








unsubscribe from list

RECENT

POPULAR

COMMENTS

The World’s 50 Best Restaurants today reveals Leonor Espinosa of Leo, Bogotá, as the 2022 winner of The World’s Best Female Chef Award, sponsored by Nude Glass

Colombian Leonor Espinosa Named "World's Best Female Chef"

Posted On May 18, 2022
Grand Bahamas photo © Loren Moss

Bahamas Seeks Air Connectivity With Colombia

Posted On May 18, 2022
Roberto Kriete, avianca's main shareholder and chairman of the Board of Directors.

Shareholders Of Viva, Avianca & Gol Announce The Creation Of Abra Group To Dominate South American Skies

Posted On May 11, 2022

Romanian Cybercriminal Mihai Ionut Paunescu Captured In Colombia

Posted On June 29, 2021
Photo montage courtesy EPM

EPM’s Board of Directors Resign En Masse, Creating Crisis For Mayor Daniel Quintero

Posted On August 17, 2020

Deadly Riots & Protests Against Police Brutality Break Out Across Colombia

Posted On September 10, 2020

[…] damn what she said. She and...

Posted On April 4, 2022

[…] by short sellers seeking to...

Posted On March 22, 2022

[…] no longer travel freely...

Posted On March 8, 2022

Watch This!

Contact Us (Click the image):

Pages

  • About Us
  • Colombia Events, Conferences, Festivals and Important Dates
  • Contact Us
  • main
  • Media Partnerships
  • Privacy Policy
  • Search Results
  • Whatsapp test page
Copyright 2014-2020 Finance Colombia All Rights Reserved. We may earn commissions from qualifying purchases.
Posting....
WhatsApp us
 

Loading Comments...
 

You must be logged in to post a comment.