This Monday, February 28, the second Public Offerings of Shares (OPA) that the Gilinski family launched for Sura and Nutresa ended. In the case of the Sura group, Valle del Cauca investors they achieved their goal of becoming the largest shareholder, delegating the Argos group to second place.
The Colombian Stock Exchange (BVC) announced the percentages of the shares of each of the investors following the term of the second Public Offering of Shares, which was launched in mid-January, expired. The control of the shares of each group of the insurance company was as follows: Gilinski with 31.5%, Argos with 27.66%, Nutresa with 13% and Cementos Argos with 6%.
In fact, the Gilinski family had the opportunity to acquire an additional 7.74% of the shares it already had in Suramericana Inversiones (25.3%); However, he kept 6.25%.
The reason is due to the group’s second takeover bid in which it sought to acquire a minimum of 5% and a maximum of 6.25%, whose percentage it promised not to increase. For this offer he offered to pay $9.88 per share, which is considerably better than the first OPA that proposed a price of 8.01 dollars; that is, there was an increase of 23%.
In context: Grupo Nutresa does not accept Gilinski’s second takeover bid for Sura
Although Gilinski managed to be the majority shareholder in Sura, the resolution of the OPA in Nutresa did not give the same results as the banker achieved second place in control of the food company. The actions in this case were as follows: Sura has 35.3%, Gilinski recently obtained 30.71% and Grupo Argos manages 9.87%.
It should be remembered that the second OPA for Nutresa sought to acquire at least an additional 18.3% of the shares it already had (27.7%). In turn, as happened with Sura, the comparison with the first offer, there was a considerable improvement in the price of the shares of 35%, since it went from 7.71 dollars to 10.48 dollars.
With the results of these two takeover bids, the composition of the Grupo Empresarial Antioqueño (GEA) is modified in such a way that the banker Jaime Gilinski may have a 33.05% stake in Sura and a 30.81% stake in Nutresa on the boards of directors of these companies.
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Although the results obtained with Nutresa were not as expected, it is important to point out that the main shareholder of the food company is the Sura group, of which Gilinski has just become the main shareholder. It should be remembered that before the closing of the second OPA, the president of Grupo Sura, Gonzalo Pérez, reported through the Archyde.com news agency that he would seek a possible strategic partner.
The BVC must validate and approve the acceptances received within five days from the date. This to start “the award process, in accordance with the provisions of number 15 of Operating Instructions No. 005, published through Regulatory Bulletin No. 007 of February 3, 2022”, explained the Colombian Stock Exchange.
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