Ecopetrol to Sell Stake in Colombian Energy Generator

Colombia's Cabinet has authorized state-run oil company Ecotpetrol to sell its 1.1 trillion peso ($573 million) stake in energy generator Empresa Energia de Bogota (EEB), the company said in a statement on Tuesday.

Ecopetrol said it would use the money raised by the sale, which was approved by Colombia's council of ministers, to finance its investment plan for next year.

The company owns 6.87 percent of EEB, which is run by the city of Bogota.

EEB shares fell 5.7 percent to 1,650 pesos on Bogota's stock exchange after the announcement.

($1=1,918.62 Colombian pesos)

(Reporting by Nelson Bocanegra,; Writing by Julia Symmes Cobb; Editing by Paul Simao)