Baker McKenzie assists Ecopetrol in 3.672m acquisition of ISA

Baker McKenzie Colombia has advised Ecopetrol on the acquisition of a 51.4% stake in Interconexión Eléctrica

 Baker McKenzie has assisted Ecopetrol in its agreement with the Colombian Ministry of Finance and Public Credit to acquire its 51.4% stake in Interconexión Eléctrica (ISA).

The transaction was valued at $3,672 million USD, being agreed at the equivalent in Colombian pesos.

Andrés Crump, lead partner on the deal, stated: “The transaction undoubtedly represents one of the most important of the year, taking into account different factors such as the parties involved, the value and complexity, including its regional scope and the expected positive transformational effect it will have on Ecopetrol and ISA. Our most sincere congratulations to Ecopetrol for such an achievement.”

Ecopetrol is a Colombian mixed-ownership company engaged in oil and gas production, refining and transportation, as well as petrochemical activities. In addition to its local operation, the company has exploration and production activities in Peru, Brazil and the Gulf Coast.

Baker McKenzie Colombia’s team was led by partners Andrés Crump (pictured left), Jaime Trujillo (pictured right), together with associates Natalia Ponce de León, Juliana Tobón and María Paula Moya, with the participation of the offices in Argentina, Brazil, Chile and Peru.