Colombia considers Ecopetrol stake sale

Colombia considers Ecopetrol stake sale

M&A Equity Corporate & Sovereign Strategy Economy & Policy Colombia

The Colombian government could offload part of Ecopetrol as it looks to raise $7bn from the sale of stakes in state-owned businesses, LatinFinance has heard. "They are looking to sell 4.5% to 10.5% of Ecopetrol," said an M&A banker in Bogotá. "They want do this as fast as possible, but it will also depend on oil prices, which are not doing that well." Shares in Ecopetrol closed at COP3,080 ($0.99) on Friday, up 0.65% on the day, but down from a 52-week high of COP4,190 in October last year

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