Celsia buys GDF Suez’s assets in Central America

Celsia buys GDF Suez’s assets in Central America

M&A

Celsia has agreed to acquire power generating assets in Panama and Costa Rica from GDF Suez for $840m, the Colombian company said on Thursday. The deal marks Celsia’s first acquisition outside Colombia and is part of its strategy to expand into areas that could join the same electricity grid, the company said in a statement. The acquisition makes Grupo Argos-controlled Celsia the second largest power generator in Panama and the fifth in Costa Rica. “The transaction price seems reasonable and loo

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