In line with the relevant information published last August 11, 2021, we would like to inform you that today the transaction between the Ministry of Finance and Public Credit and Ecopetrol was closed, leaving the latter as owner of 51,4% shares that the State holds in ISA.
Through the relevant information published in the Financial Superintendence, both companies confirmed their proper compliance with the conditions for the closing of the Inter-administrative Contract for the acquisition of 569,472,561 shares of ISA, representing 100% of the stake held by the Ministry in the Company.
As it was reported, the transaction was closed for a value of COP 14,236,814,025,000 (COP 25.000 per share). This payment was made in equivalent US dollars for an amount of USD 3,672,992,823.94, using the Representative Market Rate in force on the date of closing.
As ratified by Ecopetrol and the Ministry of Finance in different settings, the operation strengthens the capabilities of both companies in view of the future challenges of energy transition and sustainability, opening the possibility of achieving synergies, enhancing innovation and the adoption of new technologies. They also emphasized how important it is that both companies continue to belong to the Colombian people.
Regarding the Company’s future, Ecopetrol has emphasized that “ISA will continue to be ISA” and reiterated that its strategy will be respected, as well as its high standard of corporate governance which “will be maintained and strengthened”. Ecopetrol also highlighted the value of its human team, described by the company as a world class group, which is a key success factor for the joint consolidation of the regional energy conglomerate.
In addition, ISA, as a company that belongs to all Colombians, will maintain its commitment to the energy future of the country and the leadership of Colombia in Latin America. For this purpose, ISA will continue to preserve the value of the company, responding to the commitments with its stakeholders and contributing, in a clear and concrete way, to the positive transformation of the sectors in which ISA participates, to the creation of sustainable value, and to the construction of a better future for new generations.