Benzinga | Feb 16, 2021 07:00AM EST

Ecopetrol Signs An Exclusivity Agreement With The Ministry of Finance and Public Credit

Ecopetrol S.A. ((BVC: ECOPETROL, NYSE:EC) reports that further to what was disclosed to the market last February 8, 2021, regarding the acceptance by the Ministry of Finance and Public Credit of the Non-Binding Offer presented by Ecopetrol for the acquisition of 51.4% of the outstanding shares of Interconexi?n El?ctrica S.A. "ISA" (the "Transaction"), Ecopetrol and the Ministry of Finance and Public Credit entered into an Exclusivity Agreement on February 12, 2021.

Pursuant to this Exclusivity Agreement, the parties will enter into preliminary non-binding discussions on the terms and conditions of the potential transaction. The exclusivity period is initially scheduled to end on June 30, 2021, unless the parties mutually agree to extend it. During this period, Ecopetrol will perform due diligence activities on ISA and the Ministry of Finance and Public Credit is committed to negotiate exclusively with Ecopetrol.