EMSA for sale?

Regulation & Policy    Nov 18, 2021 7:49 PM

The Senate showed its concern about a possible sale of Electrificadora del Meta (EMSA) by the government.

The first Vice-President of the Senate, Maritza Martinez, said that the Ministry of Finance (MinHacienda) opened a contest to select the investment bank to develop the plan or program for the sale of the Nation’s shareholding in companies of the electric sector such as EMSA, La Republica reported.

“We will ask the Inspector General to accompany this process to guarantee the public patrimony and to consider the position of local authorities in the sense of acquiring the Nation’s participation in this company so important for the region,” Martinez warned.

The Senator said that she will pay special attention to this process so that it is not developed in an ‘express’ manner and that it complies with regulations, including the provisions established in Law 2026 of 1995. The Senator is from the department of Meta.

In Resolution 2775 of November 11, 2021, MinHacienda opened a bidding process to provide comprehensive advisory and investment banking services to contribute to the optimization of the Nation’s assets.

The investment bank must develop the valuation, and if appropriate, analyze, design, prepare and implement the plan or program for the disposal of the Nation’s shareholding in companies of the electricity sector.

Bottom-Line: Colombian politicians are known for increasing their love for public companies, especially during election seasons.

This type of denunciation could to increase in the coming months…

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