Prisma raises stake in Promigas to 53 %

Dec 28, 2006 01:00 AM

Houston-based Prisma Energy has purchased 13.2 mm shares in Promigas from Colombian financial institution Corficolombiana, giving it a majority stake in the Colombian gas transport company.
Prisma paid pesos 27,000 for each share for a total of pesos 357 bn ($ 159 mm), Corficolombiana said. The shares represent 9.94 % of Promigas, the company said. The acquisition brings Prisma's stake in Promigas to 53 %.

Prisma is not obligated to buy additional stakes in Promigas, an official from the latter company told. Promigas will hold a January 11 meeting to elect its board. Promigas moves close to 60 % of all natural gas in Colombia.
Ashmore Energy International, a unit of Ashmore Investment Management, acquired Prisma this year.

Source: Business News Americas
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