Corporacion Financiera Colombiana S.A. completed the acquisition additional 18.7% stake in Promigas SAESP.
November 25, 2012 at 11:00 pm EST
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Corporacion Financiera Colombiana S.A. (BVC:CORFICOLCF) made an offer to acquire the remaining 75.03% stake in Promigas SAESP (BVC:PROMIGAS) for COP 2.5 trillion on June 6, 2012. Corporacion Financiera will acquire 99.73 million shares of Promigas for COP 25000 per share. The transaction is subject to approval from Colombia's securities regulator. As of July 24, 2012, Colombian regulator Superfinanciera authorised Corporacion Financiera Colombiana to bid for the shares in Promigas. Martinez Neira Abogados acted as legal advisor for Corporacion Financiera Colombiana S.A. As of November 27, 2012, Corporacion Financiera Colombiana S.A. has received acceptances for 24,886,569 shares or 18.7% stake in Promigas SAESP.
Corporacion Financiera Colombiana S.A. (BVC:CORFICOLCF) completed the acquisition additional 18.7% stake in Promigas SAESP (BVC:PROMIGAS) on November 26, 2012.
Promigas SA ESP (Promigas) is a Colombia-based company primarily engaged in the natural gas utilities sector. Together with its subsidiaries, the Company is active in the purchase, sale, transmission and distribution of natural gas. The Companyâs activities also include the design, construction and maintenance of natural gas transmission and distribution infrastructure. In addition, through Promigas Telecomunicaciones SA (Promitel), the Company is involved in the telecommunications sector, and through Compania Energetica de Occidente SAS ESP, it is engaged in the electrical power distribution sector. Furthermore, It provides personal loans within the Brilla program. The Company owns such subsidiaries as Surtidora de Gas del Caribe SA ESP, Gases de Boyaca y Santander, Gases de Occidente SA ESP and Transoccidente SA ESP, among others. In December, 2013, the Company acquired, through its subsidiary Promisol SAS, a 100% stake in Enerfranca SA ESP and 99.6% stake in Zonagen SA.
PROMIGAS S.A. E.S.P. 
