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Chile's Colbun says not able to bid for Colombia's Isagen

Published 2016-01-11, 09:03 a/m
© Reuters.  Chile's Colbun says not able to bid for Colombia's Isagen
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COLBUN
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SANTIAGO, Jan 11 (Reuters) - Chilean energy company Colbun
COL.SN said on Monday that it will not be able to bid for a
controlling stake in Colombian power generator Isagen ISG.CN
on January 13.
"Due to the new deadlines established by the authority to
present a bid and also in part because of a 21.5 percent
increase in the minimum price, Colbun will not be in a position
to present a bid on the scheduled date," the company said in a
letter posted on its website.
Consortiums controlled by Colbun and Canada's Brookfield
Asset Management BAMa.TO were expected to bid for the 57.6
percent stake in Isagen on Wednesday. The stake is valued at
around $1.94 billion.

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