Colombia sells Isagen controlling stake to Brookfield for $1.99 bln

Wed Jan 13, 2016 9:31am EST
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BOGOTA Jan 13 (Reuters) - The Colombian government sold its 57.6 percent controlling stake in power generator Isagen to Canada's Brookfield Asset Management Inc for $1.99 billion, Finance Minister Mauricio Cardenas said on Wednesday.

The stake was sold at its minimum price of 6.49 trillion Colombian pesos and is the largest privatization in the country in nearly a decade.

The government plans to use proceeds to fund its so-called 4G infrastructure projects. ($1 = 3,246.51 Colombian pesos) (Reporting by Julia Symmes Cobb; Editing by Jeffrey Benkoe)