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Ecopetrol announces the liquidation of one of its subordinates

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Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) has announced the liquidation of its subordinate, Ecopetrol Energia S.A.S E.S.P. The decision was unanimously approved by the Shareholders' Meeting, authorizing the liquidator to complete all necessary steps. The liquidation process concluded with the cancellation of the company's commercial registration in early October.

The liquidation was necessary due to regulatory restrictions preventing the same group from simultaneously engaging in energy commercialization and transmission activities. This follows Ecopetrol's acquisition of a majority stake in ISA, an electric power transmission company.

Ecopetrol, Colombia's largest company, is a major integrated energy player in the Americas, with operations spanning hydrocarbon production, transportation, refining, and petrochemicals. The company has also expanded into energy transmission and infrastructure through its ISA acquisition.

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) ha annunciato la liquidazione della sua controllata, Ecopetrol Energia S.A.S E.S.P. La decisione 猫 stata approvata all'unanimit脿 dall'Assemblea degli Azionisti, autorizzando il liquidatore a completare tutte le fasi necessarie. Il processo di liquidazione si 猫 concluso con la cancellazione della registrazione commerciale della societ脿 all'inizio di ottobre.

La liquidazione 猫 stata necessaria a causa di vincoli normativi che impedivano allo stesso gruppo di impegnarsi simultaneamente in attivit脿 di commercializzazione ed trasmissione dell'energia. Questo segue l'acquisizione da parte di Ecopetrol di una partecipazione di maggioranza in ISA, una societ脿 di trasmissione elettrica.

Ecopetrol, la pi霉 grande azienda della Colombia, 猫 un importante attore integrato nel settore energetico delle Americhe, con operazioni che spaziano dalla produzione di idrocarburi, al trasporto, alla raffinazione e alla chimica dei petrolchimici. L'azienda si 猫 inoltre ampliata nel settore della trasmissione di energia e delle infrastrutture tramite l'acquisizione di ISA.

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) ha anunciado la liquidaci贸n de su subsidiaria, Ecopetrol Energia S.A.S E.S.P. La decisi贸n fue aprobada por unanimidad en la Junta de Accionistas, autorizando al liquidador a completar todos los pasos necesarios. El proceso de liquidaci贸n concluy贸 con la cancelaci贸n del registro comercial de la empresa a principios de octubre.

La liquidaci贸n fue necesaria debido a restricciones regulatorias que imped铆an al mismo grupo participar simult谩neamente en actividades de comercializaci贸n y transmisi贸n de energ铆a. Esto sigue a la adquisici贸n por parte de Ecopetrol de una participaci贸n mayoritaria en ISA, una empresa de transmisi贸n de energ铆a el茅ctrica.

Ecopetrol, la mayor empresa de Colombia, es un importante actor integrado en el sector energ茅tico de las Am茅ricas, con operaciones que abarcan producci贸n de hidrocarburos, transporte, refinaci贸n y petroqu铆micos. La empresa tambi茅n se ha expandido hacia la transmisi贸n de energ铆a e infraestructura a trav茅s de la adquisici贸n de ISA.

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC)電 鞛愴殞靷澑 Ecopetrol Energia S.A.S E.S.P鞚 觳偘鞚 氚滍憸頄堨姷雼堧嫟. 鞚 瓴办爼鞚 欤检<齑濏殞鞐愳劀 毵岇灔鞚检箻搿 鞀轨澑霅橃棃鞀惦媹雼, 觳偘鞚胳澊 氇摖 頃勳殧頃 鞝堨皑毳 鞕勲頃橂弰搿 鞀轨澑頄堨姷雼堧嫟. 觳偘 鞝堨皑電 10鞗 齑堨棎 須岇偓鞚 靸侅梾 霌彪 旆唽搿 毵堧毽悩鞐堨姷雼堧嫟.

觳偘鞚赌 攴滌牅 鞝滍暅鞙茧 鞚疙暣 霃欖澕 攴鸽9鞚 霃欖嫓鞐 鞐愲剤歆 靸侅梾頇 氚 鞝勳啞 頇滊彊鞐 彀胳棳頃 靾 鞐嗞矊 霅 頃勳殧鞐 鞚橅暣 鞚措(鞏挫鞀惦媹雼. 鞚措姅 Ecopetrol鞚 鞝勲牓 鞝勳啞 須岇偓鞚 ISA鞚 歆攵勳潉 雼れ垬 氤挫湢頃橁矊 霅 瓴冹棎 霐半ジ 瓴瓣臣鞛呺媹雼.

旖滊‖牍勳晞 斓滊寑 旮办梾鞚 Ecopetrol鞚 鞎勲⿺毽勾 雽毳欖棎靹 膦呿暕 鞐愲剤歆 靷梾鞛愲, 韮勴檾靾橃唽 靸濎偘, 鞖挫啞, 鞝曥牅 氚 靹濎湢頇旐暀鞚 韽暔頃 甏戨矓鞙勴暅 靷梾鞚 鞖挫榿頃橁碃 鞛堨姷雼堧嫟. 鞚 須岇偓電 霕愴暅 ISA鞚 鞚胳垬毳 韱淀暣 鞐愲剤歆 鞝勳啞 氚 鞚疙攧霛 頇曤寑鞐愲弰 雮橃劙鞀惦媹雼.

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) a annonc茅 la liquidation de sa filiale, Ecopetrol Energia S.A.S E.S.P. La d茅cision a 茅t茅 approuv茅e 脿 l'unanimit茅 par l'Assembl茅e des Actionnaires, autorisant le liquidateur 脿 entreprendre toutes les d茅marches n茅cessaires. Le processus de liquidation s'est termin茅 par l'annulation de l'enregistrement commercial de l'entreprise au d茅but d'octobre.

La liquidation 茅tait n茅cessaire en raison de restrictions r茅glementaires emp锚chant le m锚me groupe de s'engager simultan茅ment dans des activit茅s de commercialisation et de transmission d'茅nergie. Cela fait suite 脿 l'acquisition par Ecopetrol d'une participation majoritaire dans ISA, une entreprise de transmission d'茅lectricit茅.

Ecopetrol, la plus grande entreprise de Colombie, est un acteur majeur int茅gr茅 dans le secteur de l'茅nergie en Am茅rique, avec des op茅rations couvrant la production d'hydrocarbures, le transport, le raffinage et les p茅trochimies. L'entreprise s'est 茅galement 茅tendue 脿 la transmission de l'茅nergie et aux infrastructures gr芒ce 脿 son acquisition d'ISA.

Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) hat die Liquidation ihrer Tochtergesellschaft Ecopetrol Energia S.A.S E.S.P. bekannt gegeben. Die Entscheidung wurde einstimmig genehmigt von der Hauptversammlung der Aktion盲re, die den Liquidator erm盲chtigt, alle notwendigen Schritte abzuschlie脽en. Der Liquidationsprozess wurde mit der Streichung der Handelsregisternummer des Unternehmens Anfang Oktober abgeschlossen.

Die Liquidation war notwendig aufgrund von regulatorischen Einschr盲nkungen, die es der gleichen Unternehmensgruppe untersagten, gleichzeitig in den Bereichen Energiekommerzialisierung und -眉bertragung t盲tig zu sein. Dies folgt auf die 脺bernahme einer Mehrheitsbeteiligung von Ecopetrol an der elektrischen 脺bertragungsfirma ISA.

Ecopetrol, das gr枚脽te Unternehmen Kolumbiens, ist ein bedeutender integrierter Energiedienstleister in den Amerikas, mit T盲tigkeiten in den Bereichen Hydrocarbonproduktion, Transport, Raffination und Petrochemikalien. Das Unternehmen hat sich auch in die Energie眉bertragung und -infrastruktur durch die 脺bernahme von ISA ausgeweitet.

Positive
  • Compliance with regulatory requirements by liquidating Ecopetrol Energia S.A.S E.S.P.
  • Streamlining operations to align with current business structure and regulations
  • Unanimous shareholder approval for the liquidation process
Negative
  • Discontinuation of energy commercialization activities through the liquidated subsidiary
  • Potential loss of revenue stream from energy commercialization business

Insights

The liquidation of Ecopetrol Energia S.A.S E.S.P. is a strategic move to comply with regulatory requirements following Ecopetrol's acquisition of ISA. This decision demonstrates the company's commitment to regulatory compliance and streamlining its operations.

While the liquidation itself may not have a significant direct financial impact, it reflects Ecopetrol's evolving business model. The company is transitioning from a pure oil and gas player to an integrated energy company with a strong presence in power transmission. This diversification could potentially provide more stable revenue streams and reduce exposure to volatile oil prices.

Investors should note that this move aligns Ecopetrol with current regulations and positions it for potential growth in the electric power sector. However, it's important to monitor how the company manages the integration of its diverse energy assets and capitalizes on synergies across its expanded portfolio.

Ecopetrol's liquidation of its energy commercialization subsidiary highlights the complexities of operating in a regulated energy market. The move is necessitated by regulations preventing simultaneous involvement in energy commercialization and transmission within the same group.

This development underscores Ecopetrol's significant position in Colombia's energy landscape, controlling over 60% of hydrocarbon production and now expanding into power transmission through ISA. The company's diverse portfolio, including interests in petrochemicals, gas distribution and international operations, positions it as a major integrated energy player in the Americas.

Investors should consider how this strategic shift might impact Ecopetrol's revenue mix and growth prospects. While the company may lose some flexibility in energy trading, its strengthened position in transmission could provide more stable, regulated returns. The key will be how effectively Ecopetrol leverages its expanded capabilities across the energy value chain.

BOGOTA, Colombia, Oct. 11, 2024 /PRNewswire/ -- Ecopetrol S.A. (BVC: ECOPETROL; NYSE: EC) informs that the Shareholders' Meeting of its subordinate Ecopetrol Energia S.A.S E.S.P., with the favorable and affirmative vote of 100% of its subscribed shares, authorized its liquidator, Mr. Christian Schneider Jaramillo, to carry out all the necessary steps for the due liquidation of this company whose purpose was the commercialization of energy, which culminated with the cancellation of its commercial registration the first days of October.

Ecopetrol Logo.

The liquidation of Ecopetrol Energia S.A.S. E.S.P. was due to the fact that Ecopetrol S.A. is currently the parent company of an electric power transmission company, and current regulations restrict the same group from simultaneously carrying out commercialization and transmission activities.

Ecopetrol is the largest company in Colombia and one of the main integrated energy companies in the American continent, with more than 19,000 employees. In Colombia, it is responsible for more than 60% of the hydrocarbon production of most transportation, logistics, and hydrocarbon refining systems, and it holds leading positions in the petrochemicals and gas distribution segments. With the acquisition of 51.4% of ISA's shares, the company participates in energy transmission, the management of real-time systems (XM), and the Barranquilla - Cartagena coastal highway concession. At the international level, Ecopetrol has a stake in strategic basins in the American continent, with Drilling and Exploration operations in the United States (Permian basin and the Gulf of Mexico), Brazil, and, through ISA and its subsidiaries, Ecopetrol holds leading positions in the power transmission business in Brazil, Chile, Peru, and Bolivia, road concessions in Chile, and the telecommunications sector.

For more information, please contact:

Head of Capital Markets (a)
Cristhian Prado Castillo
Email: investors@ecopetrol.com.co

Head of Corporate Communications
Marcela Ulloa
Email: marcela.ulloa@ecopetrol.com.co

Cision View original content:

SOURCE Ecopetrol S.A.

FAQ

Why did Ecopetrol (EC) liquidate Ecopetrol Energia S.A.S E.S.P.?

Ecopetrol liquidated Ecopetrol Energia S.A.S E.S.P. due to regulatory restrictions that prevent the same group from simultaneously carrying out energy commercialization and transmission activities. This decision followed Ecopetrol's acquisition of a majority stake in ISA, an electric power transmission company.

When was the commercial registration of Ecopetrol Energia S.A.S E.S.P. canceled?

The commercial registration of Ecopetrol Energia S.A.S E.S.P. was canceled in early October 2024, marking the completion of the liquidation process.

Who authorized the liquidation of Ecopetrol Energia S.A.S E.S.P.?

The liquidation was authorized by the Shareholders' Meeting of Ecopetrol Energia S.A.S E.S.P., with a unanimous vote in favor by 100% of its subscribed shares.

What was the main business of Ecopetrol Energia S.A.S E.S.P. before liquidation?

Ecopetrol Energia S.A.S E.S.P.'s main purpose was the commercialization of energy before its liquidation.

Ecopetrol S.A

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