Colinversiones Shows Interest in Epsa

Colombia’s Colinversiones, whose holdings are largely in the electricity generation and transmission sector, says it is interested in acquiring a stake in Valle del Cauca-based peer Empresa de Energia del Pacifico (Epsa) from Spain’s Gas Natural. “Colinversiones’ board has authorized the company to make an offer for Epsa, but we can’t comment on the amount to be offered or the size of the stake to be purchased,” says a Colinversiones spokeswoman. Gas Natural holds a 63% stake in Epsa, which it gained as part of a merger with Spanish rival Union Fenosa earlier this year. Although different Colombian bankers and analysts could not say what the potential value of Gas Natural’s stake in the company is, Epsa’s annual report for 2008 indicates revenue of COP1trn.