Ecopetrol could reduce government stake with share sales

Ecopetrol could reduce government stake with share sales

Corporate & Sovereign Strategy Equity Capital Markets Energy Oil

Colombia's state-owned oil company Ecopetrol said Monday that it could sell shares to lower the government's stake to no less than 80% in the next five years. The government and state-owned entities currently own 88.5% of Ecopetrol. The Bogotá-based oil company's other shareholders include JPMorgan, Porvenir, Vanguard, Scotiabank and Skandia, among others, according to the company. Ecopetrol will use the money from any share sales to fund its energy transition plans through organic growth and ac

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