Ownership limits crimp Electricaribe sale

Ownership limits crimp Electricaribe sale

Debt Economy & Policy M&A Colombia

A 25% restriction on foreign ownership of Colombian assets could hamper Enel's anticipated acquisition of the regional power company Electricaribe beyond the deadline of mid-February 2019, analysts said. "Colombia has a 25% limitation [on foreign ownership] and Enel's acquisition could exceed that," said Germán Cristancho, the head of research at Corredores Davivienda, noting that the Italian energy firm already has a 24% stake in the electricity company Codensa in Bogotá. "The government has

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