EC - Ecopetrol Colombian government to launch exclusive talks over $4B utility

Ecopetrol (EC) says Colombia's government accepted its non-binding offer to purchase a 51.4% stake in state-controlled energy transmission utility Interconexion Electrica, which is expected to fetch as much as $4B.The two parties will exclusivity contract with Ecopetrol to conduct due diligence and formulate the terms of the sale of the shares held by the government.Ecopetrol, which is 88.5% owned by the government, last month made an offer for ISA, which operates electricity transmission lines and highways in countries across Latin America.Ecopetrol recently said the theft of crude oil from its pipelines jumped 46% last year.

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Ecopetrol, Colombian government to launch exclusive talks over $4B utility