Ecopetrol pins ISA deal on share sale

Ecopetrol pins ISA deal on share sale

M&A Bonds Debt Fixed Income Equity Colombia Capital Markets Energy Oil Electricity Toll Road Telecoms

Colombia's state-owned oil company Ecopetrol needs to raise capital through a share sale before it can complete the acquisition of the government-backed holding company ISA, CEO Felipe Bayón told analysts on Wednesday. "The equity float is a necessary condition to close the transaction, and I think that's important," Bayón said during a conference call to present Ecopetrol's fourth quarter results. After a share sale in the third or fourth quarter of the year, Ecopetrol could issue bonds to fund

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