Deal Announcement - Energy & Utilities - Energia Bogota

Inverlink (IMAP Colombia) advised Grupo Energía de Bogotá (GEB) on the merger of its power and utilities stakes in Emgesa and Codensa with Enel’s renewable platform Enel Green Power (EGP) in Colombia, Panama, Guatemala and Costa Rica. The transaction value was ~USD 9 billion, the highest in the country's history.

Emgesa will absorb Codensa, EGP Colombia and ESSA 2 (Holding for CentralAm assets), creating Enel Colombia. The new company will consolidate its position as a major international player, with greater installed capacity, operating in four countries via wind, solar and hydroelectric power plants and with 1,850+ MW of additional renewable energy. When plants under construction become operational, and with further development of EGP Colombia, Emgesa will be the largest generation company in Colombia (4.8 GW), with more than 90% of renewable installed capacity.

In addition, GEB will have access to a platform better positioned to capture growth opportunities, consolidating its impact and reach in seven countries in the region and the entire power value chain. The transaction is subject to corporate and regulatory approvals.

The IMAP Colombia team, led by Mauricio Saldarriaga and Nicolás Gómez, acted as financial advisor to GEB throughout the merger process.

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