BOGOTA, May 11 (Reuters) - Three multinationals will partake in a May 19 auction of the Colombian government’s majority stake in power generator Isagen, the Finance Ministry said on Monday, a sale expected to raise around $2.2 billion.
Canada’s Brookfield Asset Management, Chile’s Colbun and France’s GDF Suez have paid a “guarantee of seriousness” of 100 billion pesos ($42 million) enabling them to bid for the government’s 57.6 percent stake.
China’s Haudian Corporation and Spain’s Gas Natural International, which had earlier expressed an interest in bidding, did not present the guarantee and are no longer in the running for the power generator.
The government wants to sell Isagen to raise funds for its $20 billion highway construction program which aims to boost the competitiveness of the Andean country where transport over winding, steep roads inflates costs for industry. (Reporting by Nelson Bocanegra; Writing by Peter Murphy; editing by Andrew Hay)