Empresa Electrica de Guatemala Being Sold
According to reports, the Spanish utility Iberdrola is in discussions to sell its shares in Empresa Electrica de Guatemala SA (EEGSA) to Colombian company Eléctrica de Medellín (EDM).
Tuesday, October 19, 2010
Iberdrola's decision would be related to the reduction of tariffs in over 50% approved by the National Energy Commission (CNEE) in June of 2008. In November 2009, Iberdrola sued Guatemala with an international arbitration proceeding for $ 672 million, questioning the reduction.
The lawsuit was filed by Iberdrola, main shareholder and operator of EEGSA (Empresa Eléctrica de Guatemala, 'Electric Company of Guatemala').
Colombian Group EPM acquired 80% stake in Empresa Electrica de Guatemala (EEGSA).
EPM Group bought to Ashmore Energy International electricity distribution company ENSA of Panama and DELSUR of El Salvador for $ 200 million.
Two Colombian companies have submitted pre-qualification documents for the purchase of 51% of the shares of the electricity distributors Edemet and Edechi.
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