EPM Buys Guatemala’s EEGSA

Guatemalan distribution utility EEGSA has been acquired by Empresas Publicas de Medellin (EPM) for $605m in cash, plus assumption of existing debt. EEGSA had been owned by TECO Guatemala, Iberdrola and Energias de Portugal, which combined had an 80.9% interest in the company. “Today’s announcement allows TECO Guatemala to continue our focus on generating reliable electricity for the residents of Guatemala through our 2 remaining power generation assets,” says TECO Guatemala president Phil Barringer. Citi advised TECO.