IMAP is pleased to announce that Inverlink (IMAP Colombia) advised Empresas Públicas de Medellín (EPM) on the acquisition of the electric utility CaribeMar from Electrificadora del Caribe (Electricaribe).
CaribeMar, to be renamed Afinia, will serve 1.5+ million customers and 6 million inhabitants in the northern region of Colombia. Afinia will execute an ambitious investment plan of over $1 billion during the next 5 years to enhance its distribution grid and improve service quality.
With this acquisition, EPM will become the largest energy distribution company in Colombia, with a market share of around 35%. The transaction continues to consolidate EPM as one of the leading public utilities in Latin America, providing energy, gas, water and waste management services to over 25 million people in 6 countries throughout the region.
The Inverlink (IMAP Colombia) team, led by Nicolás Gómez, acted as financial advisor to EPM throughout the acquisition process.