April 17, 2015 / 10:29 PM / in 3 years

Colombia will auction majority stake in Isagen on May 19

BOGOTA, April 17 (Reuters) - Colombia’s government will sell its controlling stake in electricity generator Isagen SA on May 19, the company said in a statement to the financial regulator on Friday.

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

China Huadian Corporation, Chile’s Colbun SA , Spain’s Gas Natural SDG SA, Canada’s Brookfield Asset Management Inc and France’s Generco S.A., owned by GDF Suez SA, all submitted documents to express their interest, Isagen said this week.

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

$1 = 2,493.93 Colombian pesos Reporting by Nelson Bocanegra; Writing by Julia Symmes Cobb; Editing by Alan Crosby

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