EPM Buys Guatemalan Utility Company for $ 635 million
Colombian Group EPM acquired 80% stake in Empresa Electrica de Guatemala (EEGSA).
Friday, October 22, 2010
Empresas Publicas de Medellin (EPM), leading provider of public services in Colombia, will expand its presence in Central America.
EPM Group bought to Ashmore Energy International electricity distribution company ENSA of Panama and DELSUR of El Salvador for $ 200 million.
The U.S. Corporation, a former shareholder of Empresa Eléctrica de Guatemala (EEGSA), sued the country before the ICSID in Washington.
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).
A recent ruling by an international tribunal in a dispute between Guatemala and Iberdrola, sets a precedent against the claims of Teco Energy.
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