Gas Natural Fenosa subsidiary may be nationalized in Colombia
Filial de Gas Natural Fenosa podría ser nacionalizada en Colombia
Intel ID : 239451
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Electricaribe, a Colombia-based power distributor and subsidiary of Spain-based Gas Natural Fenosa (BME:GAS), could be capitalized by the Colombian government, reported Crónica Global on 8 August 2016. Specifically, the director of the Federación Nacional de Departamento, Amilkar Acosta, noted Electricaribe has a large amount of debt with the authorities of Colombia's Atlantic region. Additionally, Acosta confirmed Gas Natural Fenosa issued a document through the court: "It is the response to president Santos' demand for a capitalization of Electricaribe, so the company is able to meet its investment commitments of the Plan5Caribe". Although Gas Natural Fenosa has not issued any statement or filing to the Spanish market, the matter is in a negotiation phase in which no legal action has been taken yet, reported sources close to the Spain-based multinational.
(content in spanish)
Electricaribe, distribuidora colombiana de energía y filial de la española Gas Natural Fenosa (BME: GAS), podría ser capitalizada por parte del Gobierno colombiano, según ha informado Crónica Global el 8 de agosto de 2016. En concreto, el director de la Federación Nacional de Departamento, Amilkar Acosta, ha mencionado que Electricaribe atraviesa un alto nivel de endeudamiento con las autoridades de la región atlántica de Colombia. Además, ha confirmado que Gas Natural Fenosa ha comunicado un recurso vía judicial: “Es la respuesta a la exigencia del presidente Santos para que capitalizara a Electricaribe, para que esta empresa pudiera cumplir con sus compromisos de inversión en el Plan5Caribe”. Aunque Gas Natural Fenosa no ha emitido ningún comunicado ni ha notificado hecho relevante al mercado en España, el asunto está en una fase de negociación en la que aún no se han efectuado acciones legales, según señalan fuentes cercanas a la multinacional española. |
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20.03.05 Electric Utilities 20 Energy & Utilities / 20.03 Power Generation & Electric Utilities |
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20.03.05 Electric Utilities 20 Energy & Utilities / 20.03 Power Generation & Electric Utilities |
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20.02.03 Natural Gas & Hydrogen Utilities 20 Energy & Utilities / 20.02 Oil, Gas & Consumable Fuels 20.04.04 Hydro Power 20 Energy & Utilities / 20.04 Renewable Energy 20.04.08 Solar Power 20 Energy & Utilities / 20.04 Renewable Energy 20.04.09 Wind Power 20 Energy & Utilities / 20.04 Renewable Energy |
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Legend:
Verified: Confirmed as a party to an active or possible transaction.
Potential: Unconfirmed as a party to an active or possible transaction.
Retained: Confirmed as “Retained” with a general or specific mandate.
Prospect: Advisory “Prospect” in discussions with or pitching services to possible client.
Transactional data is continuously updated by the research team and therefore is subject to change.