Colombia To Re-auction Ecogas

Colombia is to re-auction Empresa Colombiana de Gas (Ecogas), the country’s largest gas distribution company, rejecting the $823 million offer made Friday by a group of six pension funds (AFPs) for the company’s assets. The offer, which fell short of the minimum set by the government, was made via a holding company called Transportadora de Gas del Interior (TGI). The new auction will be opened up to the private sector, including foreign bidders. The re-auction is set to take place in 45 days time.