Colinversiones closes Termoflores acquisition

Colombian holding company Compañía Colombiana de Inversiones (Colinversiones) has completed the acquisition of generator Termoeléctrica Termoflores, Colinversiones told financial regulator Superfinanciera.

The generator will be held by Colinversiones US subsidy Inversiones Energéticas, which was created with US$300mn in financing.

Inversiones Energéticas received the first US$32mn on October 26 and the remaining US$268mn on December 4.

The financing is guaranteed with 38.4mn shares Colinversiones holds in Colombian company Suramericana de Inversiones, according to the documents.

The 151MW natural gas-fired thermo plant in Barranquilla is the first generator in Colombia to have participated in energy regulator CREG's new plan for long-term power supply contracts, according to local press reports.

Publication: Business News Americas - English News
Provider: Business News Americas
Date: December 5, 2007

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