ANNOUNCEMENT 07 Sep 2012
The Government of Colombia ordered the takeover of Electricaribe, a unit of Spain’s Gas Natural Fenosa.
NUMBER OF INTERVENTIONS
Superintendence of Domiciliary Public Services. Superintendencia de Servicios Públicos Domiciliados. Comunicados "Superintendencia de Servicios Públicos Domiciliarios toma posesión de Electricaribe S.A. E.S.P." Available at: http://www.superservicios.gov.co/Sala-de-prensa/Comunicados/Superintendencia-de-Servicios-Publicos-Domiciliarios-toma-posesion-de-Electricaribe-S.A.-E.S.P
On November 15, 2016, the Superintendence of Domiciliary Public Services of Colombia announced the takeover of the electricity distributor Electricaribe, a unit of Spain’s Gas Natural Fenosa. The reasons provided for the nationalization of the company is its incapability to ensure the provision of electricity service as the company is facing a financial crisis. In this sense, the national agency appeals to the funding resolution where a takeover under these circumstances was contemplated.