February 26, 2021
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
Colombia's state-owned oil company could also raise debt to finance part of the acquisition, CEO says