Chile: Brookfield and Colbun prepare for Isagen arm-wrestle

Canada’s Brookfield Asset Management and Chile’s Colbun are now rival bidders for Isagen, the Colombian power company due to be privatized.

ࢀ¨To win, one of them will have to spend roughly Peso$6.5bil (around $2m) on the state’s 57.6 per cent stake, as well as another obligatory Peso$3.2bil on stakes owned by minority shareholders.ࢀ¨

Colbun launched its first foreign purchase in December, when it acquired Fenix Power Peru. The firm boasts 24 power plants, 16 of which are hydroelectric installations. ࢀ¨

Brookfield, meanwhile, holds energy sector assets in North America, Europe and Brazil. Of its 250 power plants, 207 are hydroelectric installations. ࢀ¨

Both firms would look to grow Isagen.

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