Colombia: EPM ready to take over Gas Natural

Colombia’s Superintendency of Industry and Commerce (SIC) has announced that the potential merger of Gas Natural with EPM or with any of Brookfield’s subsidiaries in the country would not merit being challenged, giving a new lease on life to the bidding process.

Since the start of the year, EPM and the Brookfield Infrastructure Group fund have struggled to gain control of the company Gas Natural (GN Colombia), valued at more than 2.8 billion Colombian pesos (approximately US$1.2 Billion).

Sources within the SIC commented that, after analyzing the effects of the potential transaction, no inconveniences were found, since in no case would competition in the natural gas market be affected.

Jorge Andrés Tabares, Vice President of Finances at EPM, said that the SIC’s pronouncement was a key milestone that would enable this purchase to go ahead. “Any details of possible restrictions are manageable, now we continue with the task of obtaining other authorizations, but the important thing is that EPM can buy the assets of Gas Natural”.

Full Content: El Colombiano

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.