Ecopetrol Publishes Offering Notice Ahead of Its September 14 Divestment Auction of Interconexión Eléctrica Shares

As required by Colombian regulations, Ecopetrol has published the offering notice of its divestment auction for its shares in Interconexión Eléctrica. The notice, published in a major Colombia newspaper, concerned the third auction of the second stage of the state-controlled oil giant’s equity divestment plan.

The public share offering will be held this week on September 14 prior to the start of common stock trading in the Colombian stock exchange, Bolsa de Valores de Colombia. The company’s equity divestment plan was approved by the Colombian government in Decree 1800 a year ago on September 9, 2015.

Interconexión Eléctrica is a state-run holding company based in Medellín. It operates within the electricity, telecom, and infrastructure sectors throughout Latin America, with holdings and projects in countries, including Brazil, Peru, Ecuador, Bolivia, and Venezuela.

Ecopetrol also will hold an “extraordinary” shareholders’ meeting the same day in Bogotá to address the vacancies on its board of directors. The meeting was called by Ecopetrol CEO Juan Carlos Echeverry last month.

The board is currently led by Carlos Cure Cure. Mauricio Cárdenas, the nation’s minister of finance, and Simón Gaviria Muñoz, head of the National Planning Committee, also both sit on Ecopetrol’s board.

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