Corfi Moves for Promigas

Corfi Moves for Promigas

Colombia M&A

Colombia’s Corporacion Financiera Colombiana (Corficolombiana) plans to offer to buy the 75.03% in gas distribution and pipeline company Promigas that it does not own, it says. The financial group is offering up to COP2.49trn ($1.41bn), targeting 99.7m shares at a price of COP25,000 each. The price represented a 13% discount to Wednesday’s COP28,900 closing price. Shares remained Thursday at that level, with trading suspended that morning. The takeover bid has been planned since Corficolombiana,

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