Press release
Ashmore Colombia closes its first e-mobility exit in Colombia
5 December 2022
Ashmore Management Company Colombia, a subsidiary of Ashmore Group plc, has reached an agreement to sell its stake in Electribus Bogotá Usme I S.A.S. and Electribus Bogotá Fontibon II S.A.S. (‘Electribus’), two e-mobility bus transportation concessions in Bogotá, providing a fleet of public buses to TransMilenio1. The stake has been sold to infrastructure investor John Laing Group.
Ashmore Colombia consolidated its stake in Electribus alongside Somos K (one of the leading public transportation operators in Colombia) through Fondo Ashmore Andino II-FCP and Ashmore Andean Fund II, LP (together the “Funds”), after being awarded with two concession agreements to provide a fleet of 259 electric buses for the zonal lines in Usme and Fontibon. The investment in Electribus was the Funds’ first venture in e-mobility, and one of the first of such projects in Colombia.
Ashmore Colombia is proud to have achieved such growth and success as an active shareholder in the company, and to have attracted foreign interest into the business from a global specialist firm as John Laing.
About Electribus
Electribus Bogotá Fontibon II and Electribus Bogotá Usme I are two companies who were awarded with long-term concession agreements to provide a fleet of 259 electric buses for the zonal lines of the public transportation system in Bogotá. The concession agreements granted to Electribus are part of the commitment of TransMilenio and the city of Bogotá to develop a sustainable transportation system.
About Ashmore Colombia
Ashmore Colombia is part of Ashmore Group plc, a specialist Emerging Market investment manager. Founded in 2009, Ashmore Colombia is a Latin America-focused private equity manager investing across Colombia, Peru and selectively Central America. With offices in Bogota and Lima, it has one of the largest on-the-ground teams, and has been involved in private equity transactions since the 1980s, building an extensive network.
About John Laing
John Laing is a leading international investor and active manager of core infrastructure assets. John Laing invests across the spectrum of development, in construction, and already operational assets, and across a range of sectors, including transportation, energy and utilities, telecommunications and social infrastructure. John Laing has successfully delivered more than 150 infrastructure assets across the UK & Europe, North America, Australia, New Zealand and Colombia.
For more information please visit www.laing.com.
1. TransMilenio is the official massive public transportation service in Bogotá, which mobilises more than 4 million people per day in the city.