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    GRUPOSURA   COT13PA00086

GRUPO DE INVERSIONES SURAMERICANA S.A.

(GRUPOSURA)
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End-of-day quote Bolsa De Valores De Colombia  -  05-24
42000.00 COP   -0.14%
05/25INDIVIDUAL PENSION SAVINGS : the bastion for government financing and for when reaching retirement age
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05/20Gilinski launches offer for up to 32.5% of Grupo Argos shares
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05/16Third Gilinski offer for Nutresa shares declared void
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REFILE-Colombia's Grupo Gilinski on verge of becoming second-largest shareholder in Grupo SURA

01/12/2022 | 11:28am EDT

BOGOTA, Jan 12 (Reuters) - Colombia's Grupo Gilinski is on the verge of becoming the second-largest shareholder in Grupo SURA after securing 25.42% of the investment company's shares in a public acquisition offer, the Colombian Stock Exchange said on Wednesday.

Grupo Gilinski, via JGDB Holding SAS and with the financial backing of First Bank of Abu Dhabi, initially sought to buy between 25.344% and 31.68% of Grupo SURA's shares.

Grupo Gilinski, which offered $8.01 per Grupo SURA share, snatched up 118.9 million shares out of a total 467.9 million available shares in the acquisition, which closed on Tuesday, in a transaction that could exceed $952.5 million.

Acceptances are subject to the validation and approval of the Colombian Stock Exchange.

If the transaction is approved Grupo Gilinski will become Grupo SURA's second-largest shareholder after Grupo Argos , which controls 27.6% of the company.

Banker Jaime Gilinski, along with support of Abu Dhabi's Royal Group, also launched a public acquisition offer to buy up to 62.625% of shares in Nutresa, the largest processed food producer in Colombia, in a deal that could be worth some $2.22 billion.

Grupo Gilinski offered $7.71 per Nutresa share.

Both Sura and Nutresa fall under the umbrella of Colombia's largest conglomerate, Grupo Empresarial Antioqueno (GEA), which also controls more than 100 companies including industrial conglomerate Grupo Argos, energy generator Celsia and bank Bancolombia.

The offer for Nutresa will close on Wednesday. By Tuesday Grupo Gilinski had secured 16.47% of Nutresa's 458 million shares.

Neither Grupo Gilinski, Grupo SURA, nor Nutresa were immediately available to comment.

(Reporting by Luis Jaime Acosta in Bogota Writing by Oliver Griffin Editing by Matthew Lewis)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
BANCOLOMBIA S.A. 2.69% 42020 End-of-day quote.21.10%
CELSIA COLOMBIA S.A. E.S.P. 0.00% 18900 End-of-day quote.0.00%
CELSIA S.A. E.S.P. -0.90% 4180 End-of-day quote.-0.10%
FIRST ABU DHABI BANK P.J.S.C. 1.71% 19 End-of-day quote.2.03%
FIRST BANK -0.21% 13.93 Delayed Quote.-3.79%
GRUPO ARGOS S.A. 0.00% 13540 End-of-day quote.-0.07%
GRUPO DE INVERSIONES SURAMERICANA S.A. -0.14% 42000 End-of-day quote.40.00%
GRUPO NUTRESA S. A. -4.88% 39000 End-of-day quote.36.17%
ON SEMICONDUCTOR CORPORATION 3.19% 56.24 Delayed Quote.-17.20%
THE NASDAQ COLOMBIA INDEXED MARKET 1.18% 391.621034 Real-time Quote.5.82%
All news about GRUPO DE INVERSIONES SURAMERICANA S.A.
05/25INDIVIDUAL PENSION SAVINGS : the bastion for government financing and for when reaching re..
PU
05/20Gilinski launches offer for up to 32.5% of Grupo Argos shares
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05/16Third Gilinski offer for Nutresa shares declared void
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05/16Colombia's Grupo SURA to destine cash flow for paying down debt
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05/16TRANSCRIPT : Grupo de Inversiones Suramericana S.A., Q1 2022 Earnings Call, May 16, 2022
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04/25Gilinski acquires another 3% of SURA in third public offer
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04/21Grupo Argos will not participate in public offer for SURA, Nutresa share
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Financials
Sales 2022 24 443 B 6 180 M 6 180 M
Net income 2022 1 372 B 347 M 347 M
Net Debt 2022 - - -
P/E ratio 2022 17,8x
Yield 2022 1,46%
Capitalization 22 033 B 5 571 M 5 571 M
Capi. / Sales 2022 0,90x
Capi. / Sales 2023 0,84x
Nbr of Employees 60 173
Free-Float 26,7%
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Mean consensus UNDERPERFORM
Number of Analysts 4
Last Close Price 42 000,00 COP
Average target price 28 625,00 COP
Spread / Average Target -31,8%
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Managers and Directors
Gonzalo Alberto Perez Rojas President & Chief Executive Officer
Ricardo Jaramillo Mejia Chief Financial & Business Development Officer
Jaime Bermúdez Merizalde Chairman
María Carolina Uribe Arango Independent Director
José Luis Suárez Parra Independent Director