Empresa Electrica de Guatemala Being SoldAccording 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. Source: elperiodico.com.gt ¿Busca soluciones de inteligencia comercial para su empresa?Colombian Investments in Central AmericaJanuary 2011 EPM Group bought to Ashmore Energy International electricity distribution company ENSA of Panama and DELSUR of El Salvador for $ 200 million. TECO Energy Sues GuatemalaNovember 2010 The U.S. Corporation, a former shareholder of Empresa Eléctrica de Guatemala (EEGSA), sued the country before the ICSID in Washington. EPM Buys Guatemalan Utility Company for $ 635 millionOctober 2010 Colombian Group EPM acquired 80% stake in Empresa Electrica de Guatemala (EEGSA). State of Guatemala Sued for $672 MillionDecember 2009 The lawsuit was filed by Iberdrola, main shareholder and operator of EEGSA (Empresa Eléctrica de Guatemala, 'Electric Company of Guatemala').
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