Latin America: EPM mandates Santander for ISA stake sale

21 September 2018 - 12:00 am UTC

Medellín’s water and energy utility company Empresas Públicas de Medellín (EPM) has mandated Santander as sellside advisor on the sale of a 10.17% stake in Interconexión Eléctrica (ISA), according to a spokesperson.

EPM plans to sell up to COP 3.5-4trn (USD 1.32bn) of assets to provide liquidity to confront the financial costs associated with the recent disaster it suffered during the construction of its Hidroituango hydroelectric plant. 

The council of Medellín still has to approve the sales but added that EPM is in the process of selecting an investment bank for the sale of its assets in Chile; the 109.6MW Cururos wind farm as well as other related projects and water utility Aguas Antofagasta (ADASA), according to a company spokesperson. 

The spokesperson said that they should select an investment bank in the next few weeks. 

EPM paid USD 956m for ADASA in 2015. 

EPM’s 10.17% stake in Colombian electricity utility ISA could be valued at around COP 1.36trn based on ISA’s market cap of COP 13.36trn as of 21 September. 

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