High Court suspends Isagén process

COLOMBIA - In Brief 28 Mar 2014 by Andrés Escobar Arango
The State Council, one of Colombia's high courts, ruled in favor of temporarily suspending the process of selling the Nation's stake in Isagén. The ruling invokes the need to carry out a deeper analysis of the implications of the Central Government losing a future stream of dividends. So, even though 7 consortia of Colombian and foreign companies were admitted yesterday by the Ministry of Finance to enter into the bidding process to buy a controlling stake (57.7%) in Isagén on May 8, the State Council decision puts the process in hold until further notice. Now, it is up to the Government to convince the State Council that selling its controlling stake in Isagén is a good idea.

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