GEB and Enel agreement

Company News    Jun 17, 2021 3:16 PM

Grupo de Energia de Bogotá (GEB) and Enel Americas have reportedly reached an agreement for the creation of a new company.

The intention of both conglomerates is that the new company will serve as a vehicle to develop in an integrated manner the operations of generation, transmission and distribution of electricity, Portafolio reported.

The new company will operate at national and international level where both firms have presence.

This company is the result of the new investment framework agreement recently signed by both conglomerates for the joint and long-term development of projects.

The Enel-Codensa, Enel-Emgesa and Enel Green Power brands will disappear to make way for this new brand.

Representatives of GEB and Enel said that the companies have not adopted decisions in the corporate bodies of both companies so far.

“It is necessary to continue taking several steps for the materialization of this plan, which are being fulfilled to have the required corporate approvals,” Enel representatives said.

GEB representatives said that any decision will be informed in a timely manner to the market and the public opinion.

“The decision must have the approvals and authorizations from both internal bodies and the corresponding authorities,” they highlighted.

Portafolio said that the Boards of Directors of both organizations reached an agreement to jointly build a partnership for a profitable future and rethinking the business.

This agreement between GEB and Enel Américas will be discussed at the respective Extraordinary Assembly on June 28th and July 25th, respectively.

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