Government Seeks Advisor for Generator Sale

Proposals from investment banks wanting to advise the Colombian government on the sale of its 57% stake in electricity generator Isagen are due March 25. Investment bankers in New York and Colombia say that Credit Suisse, JPMorgan, Citi and possibly Agora – which has worked on deals with Rothschild in the past – are in the running. Colombian finance minister Oscar Zuluaga has said publicly that the stake is worth COP3trn. Besides the government, others with stakes in Isagen are Empresas Publicas de Medellin, Empresa de Energia del Pacifico, Empresa de Energia de Bogota and Financiera Energetica Nacional.