Colombia's EPM and Brazil's Cemig to bid together for Isagen

Colombia's EPM and Brazil's Cemig to bid together for Isagen

M&A

Colombia's Empresas Publicas de Medellin (EPM) has joined Brazil's Companhia Energetica de Minas Gerais (Cemig) to bid for control of Isagen, in an operation that would increase EPM’s stake in Isagen to 20%. The Colombian government last year unveiled plans to sell a 57.7% stake in Isagen targeting COP3,178 ($1.55) per share. Empresas Publicas de Medellin (EPM) has a 12.95% stake in Isagen, making it the second largest shareholder in the company after the Colombian state. "This alliance would al

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