Colombia's Grupo Nutresa targeted in joint bid for 23.1% of its shares (updated)

Graystone

11/03/2024 15:42

(Adds additional information in paragraphs 3 - 5)
       BOGOTA, March 11 (Reuters) - Grupo SURA  SIS.CN , Grupo
Argos  ARG.CN , Grupo Gilinski and Graystone Holdings have
launched a joint takeover bid to acquire 23.1% of the shares of
Colombia's Grupo Nutresa < NCH.CN>, the bidding companies said
in a document.
    The bid is part of an agreement reached in mid-2023 that
looks to help Grupo Gilinski and its partner International
Holding Company (IHC) to buy at least 87% of Nutresa's shares in
exchange for the partners to exit their stakes in Grupo SURA.
    The bidders have offered to buy up to 105,730,373 Nutresa
shares - equivalent to 23.1% of the company - at a price of $12
dollars each, according to an offer booklet published on the
Colombian stock exchange over the weekend.
        If the sale is completed the transaction would be worth
some $1.27 billion.
  
        The offer period will run from March 18 until April 3,
according to the booklet.
  
        Once the bid concludes, Grupo SURA and Grupo Argos will
exchange their Nutresa share Grupo Gilinski and Graystone
Holdings, which represents IHC. 
  
    

 (Reporting by Nelson Bocanegra
Writing by Oliver Griffin)
 ((Oliver.Griffin@thomsonreuters.com; +57 304-583-8931;))