Colombia Divests Electricity Companies

Colombia’s ministry of mines and energy says the government has sold its stakes in the electricity distribution companies of Santander, North Santander and Cundinamarca for a total of about COP765bn ($300m). The ministry says EPM Inversiones acquired the Santander and North Santander stakes, while the Cundinamarca stake was sold to Distribuidora Energetica de Cundinamarca. Stakes in similar companies in the cities of Boyaca, Huila, Caqueta, Meta and Nariño will follow. In a press conference, finance minister Oscar Zuluaga says that the sale of the Boyaca and Meta assets should happen this year. He adds that proceeds from the sale will go to fund the government’s public investment plan.