Grupo Gilinski launches takeover bid for minority portion of Colombian Grupo SURA

Grupo SURA, the largest investment holding company in Colombia, received a Public Acquisition Offer (OPA) for between 25.34% and 31.68% of its outstanding shares by a subsidiary of the Gilinski Group, the Financial and Financial Superintendence reported on Tuesday. the stock market.

The purchase price for each Grupo SURA share will be $ 8.01.

According to the range of percentage to be acquired, the amount of the OPA would be between 952.1 million dollars and 1.190 million dollars, taking into account that the total of Grupo SURA shares is 469 million 037,260, according to data from the Colombian stock exchange.

“We allow ourselves to inform that JGDB HOLDING SAS, presented the guarantee project to participate in the takeover bid for ordinary shares of Grupo de Inversiones Suramericana SA,” the stock exchange said in a statement.

Grupo SURA is made up of the Suramericana insurer, Sura Asset Management, which manages pension funds and investment portfolios for individuals. The conglomerate has stakes of between 20% and 50% in Bancolombia, Grupo Argos and Grupo Nutresa.

For its part, the Financial Superintendency ordered the suspension of the trading of Grupo SURA’s share on the stock exchange as of Wednesday and until the business day following the publication of the offer notice by the bidder of the OPA.

Grupo SURA shares closed Tuesday at 25,150 pesos ($ 6.27) on the stock market.

Neither Grupo SURA nor Gilinski immediately responded to comments.

The Gilinski Group, whose main businesses are concentrated in the financial sector, also recently launched a takeover bid for the country’s largest processed food producer, Nutresa.

Grupo SURA owns 35.7% of the property of Nutresa.

Meanwhile, Nutresa has a stake of around 13% in Grupo SURA, according to Refinitiv data.

Just last week, Grupo SURA shareholders authorized their directors to seek a strategic partner that is interested in a non-controlling interest.

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