Conduit Sells Colombia Plant

Private equity investment firm Conduit Capital Partners has sold an 82% stake in the 155 megawatt Termotasajero pulverized coal plant in Cúcuta, Colombia for $173m, it said in a statement. A Chilean investment fund and several Colombian pension funds bought the stake following a bidding process led by BNP Paribas. Scott Swensen, managing partner, declined to identify the buyers, but told LatinFinance that through the same process one other asset is subject to a binding SPA and other sales are being negotiated. He says four assets from Latin Power I and II remain to be sold. Latin Power I and II bought the Termotasajero stake in 1998 from the Colombian government.