BBVA Expects Emcali Workout Nod

BBVA Expects Emcali Workout Nod

Corporate & Sovereign Strategy

BBVA expects the Colombian government to approve today its proposal to restructure highly indebted government-owned utility Emcali, Andres O’Byrne, the banker on the deal, tells LatinFinance. The bank recommends a spin-off of Emcali’s telecommunications unit and bringing strategic partner to capitalize up to 49% of the new company, O‘Byrne says. It is also proposing that energy unit Termoemcali be capitalized by a strategic partner who could end up with a stake of over 51%, he explains. A decisi

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