EPM Mulls Acquiring New Stake in Regional Edeq

Colombian state-run utility group Empresas Publicas de Medellin (EPM) is considering an increase of its 66.4 pct stake in regional energy company Empresa de Energia de Quindio (Edeq), it was reported on April 16, 2008.

The Colombian Government has offered a proportional share from its 17.6 pct stake to all Edeq shareholders. The holding is estimated at 40 billion Colombian pesos ($22.2 mln/14 mln euro). The shareholders are expected to respond by April 25.

EPM is interested in acquiring all of the state's stake, as well as any other stake the partners would offer, the president of the Edeq board and a representative of EPM, Luis Carlos Rubiano, said.

Among Edeq shareholders are Empresas Publicas de Armenia (EPA), another regional company holding 6.7 pct, and the department of Quindio with 4.8 pct.

Publication: Business Digest
Provider: AII Data Processing Ltd.
Date: April 16, 2008

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