CTEEP - COMPANHIA DE TRANSMISSÃO DE ENERGIA ELÉTRICA PAULISTA S.A. São Paulo, August 12, 2021 - As you know, the Colombian Ministry of Finance has announced the signing of an inter-administrative purchase and sale agreement with Ecopetrol to acquire 51.4% of the shares the government holds in ISA.
At a press conference presided over by the Ministers of Finance, Mines and Energy and by the CEO of Ecopetrol, it was highlighted that the operation strengthens the capabilities of both companies in the face of future challenges of energy transition and sustainability, opening up the possibility of obtaining synergies, driving innovation and the adoption of new technologies. The importance of the two companies continuing to belong to the Colombian was also highlighted.
In the speech, Ecopetrol emphasized that 'ISA will continue to be ISA', and reiterated that the company's strategy will be respected. There was also praise for the company's high standard of corporate governance, which, according to Ecopetrol, will be kept and strengthened. Likewise, it highlighted the value of its team, qualifying it as world class and a key player in the success of the joint consolidation of the energy conglomerate in the region.
At ISA Group, there is a commitment to the energy future. To this end, it will continue to preserve the company's value, responding to commitments to its stakeholders and contributing, in a clear and tangible way, to the virtuous transformation of the sectors in which it participates - creating sustainable value and building a better future for the new generations.
There will be a new statement as soon as the Colombian Ministry of Finance and Public Credit notifies ISA of the closing of the transaction.
About Ecopetrol
Ecopetrol is the largest company in Colombia and one of the main integrated oil and gas conglomerates in Latin America, with more than 13,000 employees. It accounts for more than 60% of Colombia's hydrocarbon production, and owns the largest refineries and most of the country's oil and multi-duct network.
It also participates in energy and gas distribution trading. Internationally, Ecopetrol focuses on strategic basins on the American continent, with exploration and production operations in the United States (Permian basin and Gulf of Mexico), Brazil and Mexico. This press release contains statements relating to the business prospects, estimates for operating and financial results, and statements relating to Ecopetrol's growth prospects. All of these are projections and, as such, are based solely on the officers' expectations regarding the company's future and their continued access to capital to fund the company's business plan.
The realization of these estimates in the future depends on the behavior of market conditions, regulations, competition, performance of the Colombian economy and industry, among other factors. Therefore, they are subject to change without notice.
BackAt a press conference presided over by the Ministers of Finance, Mines and Energy and by the CEO of Ecopetrol, it was highlighted that the operation strengthens the capabilities of both companies in the face of future challenges of energy transition and sustainability, opening up the possibility of obtaining synergies, driving innovation and the adoption of new technologies. The importance of the two companies continuing to belong to the Colombian was also highlighted.
In the speech, Ecopetrol emphasized that 'ISA will continue to be ISA', and reiterated that the company's strategy will be respected. There was also praise for the company's high standard of corporate governance, which, according to Ecopetrol, will be kept and strengthened. Likewise, it highlighted the value of its team, qualifying it as world class and a key player in the success of the joint consolidation of the energy conglomerate in the region.
At ISA Group, there is a commitment to the energy future. To this end, it will continue to preserve the company's value, responding to commitments to its stakeholders and contributing, in a clear and tangible way, to the virtuous transformation of the sectors in which it participates - creating sustainable value and building a better future for the new generations.
There will be a new statement as soon as the Colombian Ministry of Finance and Public Credit notifies ISA of the closing of the transaction.
About Ecopetrol
Ecopetrol is the largest company in Colombia and one of the main integrated oil and gas conglomerates in Latin America, with more than 13,000 employees. It accounts for more than 60% of Colombia's hydrocarbon production, and owns the largest refineries and most of the country's oil and multi-duct network.
It also participates in energy and gas distribution trading. Internationally, Ecopetrol focuses on strategic basins on the American continent, with exploration and production operations in the United States (Permian basin and Gulf of Mexico), Brazil and Mexico. This press release contains statements relating to the business prospects, estimates for operating and financial results, and statements relating to Ecopetrol's growth prospects. All of these are projections and, as such, are based solely on the officers' expectations regarding the company's future and their continued access to capital to fund the company's business plan.
The realization of these estimates in the future depends on the behavior of market conditions, regulations, competition, performance of the Colombian economy and industry, among other factors. Therefore, they are subject to change without notice.
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CTEEP - Companhia de Transmissão de Energia Elétrica Paulista published this content on 12 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 August 2021 19:01:03 UTC.
