Supreme Court halts privatization of Colombia’s Isagen

Colombia’s Council of State has halted the sale of shares of state-owned power company Isagen, citing that such a privatization could negatively impact on the country’s economic growth.

Several local and foreign firms had expressed interest in becomingmajor shareholders in Isagen, which is valued at $2.5bn.

Among those Foreign companies were Duke Energy of the USA, Spain’s Gas Natural and China Haudian Corporation.

Positions and Promotions magazine confirmed that Isagen operates over 2200 MW of generation capacity, mainly hydroelectric power stations.

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