April 16, 2015 / 9:24 PM / 3 years ago

Five companies formally interested in bidding for Colombia's Isagen

BOGOTA, April 16 (Reuters) - Five international companies have expressed formal interest in bidding for the Colombian government’s controlling stake in electricity generator Isagen , the company said in a statement on Thursday.

The sale of the 57.6 percent stake, vital to infrastructure funding plans as government revenue takes a hit from low crude prices, is expected to generate at least 5 trillion pesos ($2 billion).

China Huadian Corporation, Chile’s Colbun , Spain’s Gas Natural, Canada’s Brookfield Asset Management and France’s Generco S.A., owned by GDF Suez, all submitted documents to express their interest, Isagen said in a statement to the financial regulator.

Companies’ submissions will be evaluated during the next three days to determine whether they meet technical and financial requirements to make offers, Isagen said.

Brookfield is already involved in Colombia’s energy market through Empresa de Energia de Boyaca.

The effort to sell the company, the country’s third largest energy generator, has been considered by various governments over the years but was postponed last August. It was restarted last month.

The company has not said when the auction will take place.

Isagen shares were up 1.33 percent on Thursday, closing at 3,030 pesos on the Colombian market.

$1 = 2,534.63 Colombian pesos Reporting by Julia Symmes Cobb and Nelson Bocanegra; Editing by Bernard Orr

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