Advent International-Led Investor Group to Acquire 22% of Ocensa, Colombia’s Largest Oil Pipeline, from Talisman, Total and CEPSA
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| Title: | Advent International-Led Investor Group to Acquire 22% of Ocensa, Colombia’s Largest Oil Pipeline, from Talisman, Total and CEPSA |
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| Authors: | Advent International |
| Source: | Business Wire (English). 12/10/2013. |
| Abstract: | An investor group led by global private equity firm Advent International today announced that it has signed a definitive agreement to acquire a minority interest in Oleoducto Central S.A. (“Ocensa”), Colombia’s largest crude oil transportation system. Colombia’s two largest pension funds—Sociedad Administradora de Fondos de Pensiones y Cesantías Porvenir S.A. (“Porvenir”) and Administradora de Fondos de Pensiones y Cesantía Protección S.A. (“Protección”)—will join Advent, through a co-investment fund formed by Advent as a sponsor (“LAPEF V OC Co-Investment LP”), in purchasing approximately 22% of Ocensa from Talisman Energy Inc. (“Talisman”), Total Colombia Pipeline (“Total”) and Compañía Española de Petróleos S.A.U. (“CEPSA”). Cenit S.A.S. (“Cenit”), a wholly owned subsidiary of Ecopetrol S.A., Colombia’s largest integrated oil and gas company, will retain majority ownership of Ocensa. Completion of the transaction is subject to customary closing conditions and is expected to take place within the next few weeks. [ABSTRACT FROM PUBLISHER] |
| Database: | Regional Business News |
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| Abstract: | An investor group led by global private equity firm Advent International today announced that it has signed a definitive agreement to acquire a minority interest in Oleoducto Central S.A. (“Ocensa”), Colombia’s largest crude oil transportation system. Colombia’s two largest pension funds—Sociedad Administradora de Fondos de Pensiones y Cesantías Porvenir S.A. (“Porvenir”) and Administradora de Fondos de Pensiones y Cesantía Protección S.A. (“Protección”)—will join Advent, through a co-investment fund formed by Advent as a sponsor (“LAPEF V OC Co-Investment LP”), in purchasing approximately 22% of Ocensa from Talisman Energy Inc. (“Talisman”), Total Colombia Pipeline (“Total”) and Compañía Española de Petróleos S.A.U. (“CEPSA”). Cenit S.A.S. (“Cenit”), a wholly owned subsidiary of Ecopetrol S.A., Colombia’s largest integrated oil and gas company, will retain majority ownership of Ocensa. Completion of the transaction is subject to customary closing conditions and is expected to take place within the next few weeks. [ABSTRACT FROM PUBLISHER] |
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