Ecopetrol S.A. (EC) Received a Communication from the Colombian Ministry of Finance
November 19, 2009 7:33 AM
Ecopetrol S.A (NYSE: EC) received a communication from the Colombian Ministry of Finance (Ministerio de Hacienda y Credito Publico) regarding the potential sale of Ecopetrol´s shares. On that subject, the Minister informed Ecopetrol that, during a press conference held at the Ministry of Finance, and in reply to a question posed by a journalist, the Minister mentioned a proposal made by the Ministry of Transportation to the Ministry of Finance in respect of the Nation's shares in Ecopetrol.
The Ministry of Transportation's proposal aims to structure the sale of up to 15% of Nation´s shares in Ecopetrol in order to finance transportation infrastructure projects throughout Colombia. Furthermore, the Ministry of Transportation proposes the submission of a bill to Congress in order to authorize actions by the Nation in respect of such a sale.
