Results of the Second Auction for Ecopetrol's Equity Divestment Plan for its Shares in Empresa de Energía de Bogotá (EEB)
June 02, 2016 at 12:29 PM EDT
BOGOTA, Colombia, June 2, 2016 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) ("Ecopetrol" or the "Company") reports that on June 1, 2016, through the X-STREAM trading system of the Colombian Stock Exchange (Bolsa de Valores de Colombia S.A.), the second auction was held for the second stage of the program to divest and sell 278,225,586 of Ecopetrol's shares of the company Empresa de Energía de Bogotá S.A. E.S.P. (EEB). The results were as follows:
The equity divestment plan was approved by the National Government of Colombia through Decree 2305 of 2014. As all of the shares offered in the second auction were purchased, Ecopetrol has the option of holding up to two additional auctions for the remaining number of shares, 86,585,888, in the time and manner indicated in the offering notice.
Documentation about the offering (available only in Spanish) can be consulted on Ecopetrol's website, www.ecopetrol.com.co, at:
Ecopetrol is the largest company in Colombia and is an integrated oil & gas company; it is among the top 50 oil companies in the world and among the four top ones in Latin America. Besides Colombia - where it generates over 60% of the national production - it has exploration and production activities in Brazil, Peru & the US (Gulf of Mexico). Ecopetrol owns the largest refinery in Colombia and most of the pipeline and multi-product pipeline network in the country, and is significantly increasing its participation in bio-fuels.
This release contains statements that may be considered forward looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. All forward-looking statements, whether made in this release or in future filings or press releases or orally, address matters that involve risks and uncertainties, including in respect of the Company's prospects for growth and its ongoing access to capital to fund the Company's business plan, among others. Consequently, changes in the following factors, among others, could cause actual results to differ materially from those included in the forward-looking statements: market prices of oil & gas, our exploration and production activities, market conditions, applicable regulations, the exchange rate, the Company's competitiveness and the performance of Colombia's economy and industry, to mention a few. We do not intend, and do not assume any obligation to update these forward-looking statements.
For further information, please contact:
Head of Corporate Finance and Investor Relations (A)
Media Relations (Colombia)
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/results-of-the-second-auction-for-ecopetrols-equity-divestment-plan-for-its-shares-in-empresa-de-energia-de-bogota-eeb-300278831.html
SOURCE Ecopetrol S.A.