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    GRUPOSURA   COT13PA00086

GRUPO DE INVERSIONES SURAMERICANA S.A.

(GRUPOSURA)
  Report
End-of-day quote Bolsa De Valores De Colombia  -  2023-02-05
39000.00 COP    0.00%
02/02Grupo De Inversiones Suramericana S A : 2022 2Q Corporate Presentation
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01/26Grupo De Inversiones Suramericana S A : Based on a sound and well-diversified portfolio of investments, Fitch Ratings maintains Grupo SURA's short- and long-term ratings.
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2022GRUPO DE INVERSIONES SURAMERICANA S.A. : Ex-dividend day for quarterly dividend
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SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

IHC bid for Colombian food producer Nutresa unsuccessful

11/18/2022 | 06:14pm EST

BOGOTA, Nov 18 (Reuters) - An offer by Abu Dhabi's International Holding Company (IHC) for shares in Colombian food producer Nutresa was declared void on Friday after it failed to receive the minimum number of shares, Colombia's stock exchange said in a statement.

IHC's offer attracted sales of 7.71% of Nutresa, the statement said. The Abu Dhabi-based fund had sought to buy between 25% and 31.25% of Nutresa in the offer for $15 a share.

"The Colombian stock exchange can inform the market that the public acquisition offer for common shares of Grupo Nutresa S.A., addressed to its shareholders, has been declared void," it said in an official statement.

This was the fourth offer for Nutresa shares, and the second time that a takeover bid in the company was declared void.

In mid-May, Colombian business magnate Jaime Gilinski worked with Abu Dhabi's Royal Group - the majority shareholder in IHC - in a bid to buy shares in the food producer, which was also unsuccessful.

Gilinski now owns some 31.09% of Nutresa, Refinitiv data shows and market sources say Gilinski, which is a partner of IHC's parent company Royal Group, is behind the IHC offer.

Grupo SURA is Nutresa's largest shareholder, with 35.2% of shares, while Grupo Argos is its third, with 9.95%, Refinitiv data shows.

Reuters was not immediately able to obtain comments from Gilinski, SURA, IHC or Nutresa on the situation.

Argos said in a statement late on Thursday to Colombia's financial regulator that it had decided not to participate in the public acquisition offer for Nutresa after taking into account technical, strategic and legal analyses.

SURA said that because of a legal demand brought by a minority shareholder over two of its board members who resigned last week, taking part would be risky.

The companies regulator ordered two SURA board members to abstain from participating in decisions related to the IHC offer and they subsequently resigned.

Argos, SURA and Nutresa are part of Colombia's largest conglomerate Grupo Empresarial Antioqueno (GEA). (Reporting by Nelson Bocanegra; Writing by Julia Symmes Cobb and Oliver Griffin; Editing by Alexander Smith and Daniel Wallis)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ABU DHABI AVIATION 2.45% 6.7 End-of-day quote.3.08%
GRUPO ARGOS S.A. 0.00% 9275 End-of-day quote.-2.27%
GRUPO DE INVERSIONES SURAMERICANA S.A. 0.00% 39000 End-of-day quote.-7.14%
GRUPO NUTRESA S. A. 2.20% 45990 End-of-day quote.3.35%
ROYAL GROUP CO.,LTD. -2.89% 8.39 End-of-day quote.9.96%
All news about GRUPO DE INVERSIONES SURAMERICANA S.A.
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More news
Financials
Sales 2022 26 513 B 5 543 M 5 543 M
Net income 2022 1 468 B 307 M 307 M
Net Debt 2022 - - -
P/E ratio 2022 15,0x
Yield 2022 1,58%
Capitalization 19 552 B 4 087 M 4 087 M
Capi. / Sales 2022 0,74x
Capi. / Sales 2023 0,69x
Nbr of Employees 60 173
Free-Float 22,9%
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Technical analysis trends GRUPO DE INVERSIONES SURAMERICANA S.A.
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 4
Last Close Price 39 000,00 COP
Average target price 30 575,00 COP
Spread / Average Target -21,6%
EPS Revisions
Managers and Directors
Gonzalo Alberto Perez Rojas President, Chief Executive Officer & Director
Ricardo Jaramillo Mejia Chief Financial & Business Development Officer
Jaime Arrubla Paucar Independent Director
Guillermo Villegas Ortega Independent Director
Maria Ximena Lombana Villalba Independent Director