June 25, 2021
Colombia's state-owned oil company Ecopetrol said Thursday that it could close the acquisition of a controlling stake in government-backed holding company ISA with a loan from international banks, no longer pinning the deal to a share sale.
The company previously indicated it would sell $1.5 billion to $2.5 billion worth of shares and take out $1 billion to $2.5 billion in debt to fund the acquisition. But now it has the "flexibility" to close a deal with just a loan due to "the favorable evolu
Colombia's state-owned oil company also extends exclusive talks with the finance ministry until the end of August