BOGOTA, Colombia, April 14, 2015 /CNW/ -- Ecopetrol S.A. (BVC:
ECOPETROL; NYSE: EC; TSX: ECP) hereby reports that, pursuant to the
procedures required by Law 226 of 1995, the Council of Ministers
has issued an opinion in favor of the planned sale of Ecopetrol
S.A.'s equity stake in Interconexión Eléctrica S.A. E.S.P. which
was approved by Ecopetrol S.A.'s Board of Directors.
Ecopetrol S.A.'s equity stake in Interconexión Eléctrica S.A.
E.S.P. amounts to 58,925,480 shares of common stock (equivalent to
5.32% of the subscribed and paid-up shares). The proceeds from the
planned sale will be used for financing Ecopetrol S.A.'s investment
plan.
Ecopetrol is the largest company in Colombia and is an integrated oil and gas
company; it is among the top 40 oil companies in the world and
among the top four oil companies in Latin
America. Besides Colombia –
where it generates over 60% of the national production – it has
exploration and production activities in Brazil, Peru
and the US (Gulf of Mexico).
Ecopetrol owns the largest refinery in Colombia, 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
and gas, our exploration and production activities, market
conditions, applicable regulations, the exchange rate, Ecopetrol'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:
Investor Relations Director (A)
Claudia Trujillo
Phone: +571-234-5190
e-mail: investors@ecopetrol.com.co
Media Relations (Colombia)
Jorge Mauricio
Tellez
Phone: +571-234-4329
Fax: +571-234-4480
e-mail: mauricio.tellez@ecopetrol.com.co
Logo - http://photos.prnewswire.com/prnh/20090209/ARM001LOGO
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/council-of-ministers-issues-favorable-opinion-on-planned-sale-of-ecopetrol-sas-equity-stake-in-interconexion-electrica-sa-esp-300065479.html
SOURCE Ecopetrol S.A.