Canada based PE Firm-Brookfield acquires Colombia based power generator Isagen for 6.5 trillion pesos ($2 billion).
According to Bloomberg Brookfield initially presented a bid of 4,130 pesos ($148.59) per share which was enough to meet the government set target for the acquisition.
Isagen is a utility company that engages in the generation and sale of electrical energy in Colombia. It has seven power plants with an installed capacity of 3,032 megawatts (MW) of which 2,732 MW from six hydroelectric power plants, and 300 MW from a thermal power plant. The company also sells natural gas through networks, and coal, steam, and other energy resources for industrial use. Isagen is headquartered in Medellín, Colombia.
About Brookfield Asset Management
Brookfield Asset Management is a publicly owned asset management holding company with over $200 billion of assets under management. Through its subsidiaries, the firm invests in the property, power, and infrastructure sectors. Its property business includes owning and managing office properties, developing residential communities, and offering clients bridge and mezzanine lending, alternative assets funds, and financial and advisory services. Through its subsidiaries, the firm operates hydroelectric power facilities, interconnections and transmission facilities in Northeast North America, and development of wind power in Canada. Through its subsidiaries, it invests in specialty funds including private equity and makes direct investments in real estate, energy, and resource assets.
The company was founded in 1899 as a builder and operator of electricity and transport infrastructure in Brazil.
Source: – Bloomberg