The privatization process of Gas Natural E.S.P., in which Ecopetrol sold 60.6% of the outstanding shares of the company came successfully to an end on the 4th and 5th of June when the public auction for the sale of such participation took place. During the first phase of the privatization, in which shares were offered at a fix price of $6.667 per share to the "Sector Solidario", Ecopetrol sold 10.3% of its participation to some pension funds and cooperatives.
The second phase was carried out through a public auction in the three Colombian Stock Exchanges. British Petroleum, Techint and Amoco, Gas de France, Noram, and Gas Natural de Espana were among the initial participants to the public auction.
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