Daily Colombian Equities Bulletin and Fundamentals 5-28-14
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May 29, 2014 (www.investorideas.com newswire) The Colcap index closed at 1,661.6 points (-0.11%). Total turnover reached USD 77.8 mn. The best performers were Conconcreto (+1.42%), PfDavivienda (+1.41%) and Cemex Latam (+1.40%). On the other hand, the worst performers were Valorem (-3.23%), Canacol (-3.01%) and ISA (-2.24%).
Avianca Holdings agreed with the Venezuelan Government the repatriation of the cash associated with AVH's 2012 operations. This amount corresponds to USD 12 mm (VEF/USD=6.3) and represents 3.7% of total cash trapped in that country as of 1Q14. The Venezuelan authorities also mentioned they will discuss 2013 cash repatriation in the following weeks. Source: Superintendencia Financiera
After the decision made by anti-trust authority (SIC), regarding Isagen's sell process and the conditions imposed to EEB, the Company announced that it is analyzing with its legal team the way to continue in the process. Source: Superintendencia Financiera
The Colombian patent authority granted Ecopetrol a patent for the Biocetano technology, which permits the production of renewable diesel directly in refinement facilities, by injecting hydrogen into crude palm oil. This is the third patent received by Ecopetrol during the year. Source: Superintendencia Financiera
The National Infrastructure Agency (ANI) announced offers to build a 110 km highway from Cartagena to Barranquilla and an additional 37 km road with an investment of COP 960 billion. The Groups that presented a bid were: i) Mota-Engil, Odinsa and El Condor; ii) unit of Mexico's ICA; iii) the local builder Mario Alberto Huertas Cotes. Source: Bloomberg
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