Result of Ecopetrol's Third Auction of the Equity Divestment Plan for its shares in Interconexión Eléctrica S.A. E.S.P (ISA)
September 14, 2016 at 23:23 PM EDT
BOGOTA, Colombia, Sept. 14, 2016 /PRNewswire/ -- Ecopetrol SA (BVC: ECOPETROL; NYSE: EC) reports that today through the X-STREAM trading system of the Colombian Stock Exchange, the third auction of the second stage of the Ecopetrol's equity divestment plan for 13,630,446 shares of Interconexión Eléctrica S.A. E.S.P., owned by the Ecopetrol, was declared void.
The equity divestment plan was approved by the National Government through Decree 1800 of 2015. As it is in the second stage of the program, and having completed the third auction, Ecopetrol is entitled to carry out one (1) additional auction, at the time and manner specified in the related offer notice.
Documents related to the offer can be found on Ecopetrol's website www.ecopetrol.com.co through this link:
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
Media Relations (Colombia)
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SOURCE Ecopetrol S.A.