Light at the end of the tunnel

When Canada's Brookfield Asset Management closed its acquisition of Colombian state-owned energy company Isagen, the country's largest public sell-off in more than a decade set an important precedent for the constitutionality of privatisations in Colombia. Emilio Demetriou-Jones talks to the Colombian firms who led the sale

Light at the end of the tunnel

Isagen is much loved in the city of Medellín, which lies slightly south of the vast Antioquia department in north-western Colombia. Since it was established in 1995, the company has grown to provide 16% of Colombia's electricity needs, not to mention scores of workers with stable employment and access to social programmes. So when rumours started circulating in 2015 that the Colombian government was planning to privatise Isagen, thousands of Colombians took to the streets to protest against a sale they described as a "betrayal" and which they claimed would lead to soaring energy prices.



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