Ashmore Takes Control Of Promigas

International investment fund Ashmore, based in London, has taken control of Colombian natural gas distribution company Promigas after increasing its 33% stake to almost 43%. Ashmore, via its subsidiary AEI paid $160 million for a 9.9% stake owned by local financial entity Corficolombiana. In August Ashmore paid $350 million for a 33% share of the distributor after it acquired Prisma Energy, owners of the holding. Promigas is the largest private natural gas transmission company in the country and transports around 65% of natural gas in Colombia.