Isagen Picks Financial Advisors for Sale

Colombia’s treasury has selected Credit Suisse and Bogota-based Inverlink as its financial advisors for the sale of its 57% stake in electricity generator Isagen, according to sources in the ministry and one of the banks. The stake, made up of almost 1.6bn shares, has a market value of about $1.3bn, according to the Colombian government. One of the sources says that marketing to possible buyers should begin in 2-3 months and that a deal should take place by year-end. He adds that potential buyers are international strategics with expertise in electricity generation. However, he does not rule out energy-focused private equity funds and local companies. Colombia finance minister Oscar Zuluaga had announced the ministry’s interest in selling its stake in Isagen in February. Other government-owned companies with stakes in Isagen are Empresas Publicas de Medellin, Empresa de Energia del Pacifico, Empresa de Energia de Bogota and Financiera Energetica Nacional.