BOGOTA, Colombia, March 14, 2016 /CNW/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) reports that on March 11 of 2016 through the X-STREAM trading system of the Colombian Stock Exchange (Bolsa de Valores de Colombia S.A.), the first bidding session was held for the second stage of the program to divest and sell 58,925,480 of Ecopetrol's shares of the company Empresa Interconexión Eléctrica S.A. E.S.P. The bidding session was declared void.
The Equity Divestment Plan was approved by the National Government through Decree 1800 of 2015, and in developing the second stage Ecopetrol is authorized to hold up to three (3) additional bid procedures, at the time and in the manner indicated in the Notice of Start of the Second Stage.
The documentation regarding the offer may be found on Ecopetrol's web page at www.ecopetrol.com.co at the link:
Ecopetrol is the largest company in Colombia and is an integrated oil & gas company; it is among the top 50 oil companies in the world and among the four top ones in Latin America. Besides Colombia - where it generates over 60% of the national production - it has exploration and production activities in Brazil, Peru & the US (Gulf of Mexico). Ecopetrol owns the largest refinery in Colombia and 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 & gas, our exploration and production activities, market conditions, applicable regulations, the exchange rate, the Company'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:
Head of Corporate Finance and Investor Relations
María Catalina Escobar
Phone: (+571) 234 5190
Media Relations (Colombia)
Jorge Mauricio Tellez
Phone: + 571-234-4329
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SOURCE Ecopetrol S.A.