The family holding company of former Chilean President Sebastián Piñera withdrew its capital from Colombia through the sale of Cemex Latam Latin America (CLH). Ecopetrol falls -4% in BVC despite presenting the best financial result.
The Colombian Stock Exchange (BVC) had unusual trading on Thursday, the CLH share rose 16.85% with a volume of $32 billion pesos.
On Friday the stock collapsed once more and fell -9.86%, but with a poor negotiation of $229 million pesos.
Given such financial movements in the BVC, investors wondered what was happening with Cemex Latam.
The Chilean Odisea Investments of the children of Sebastián Piñera had 10.3 million shares, equivalent to 1.80% of the company.
CLH’s third shareholders following Cemex España (89.62%) and Cemex Latam Holdings SA (3.1%) sold regarding 8.3 million shares on Thursday.
????️ BVC companies deliver their 2Q22 financial results
Previously, Cemex in 2020 launched a takeover bid to retain more participation in the company, however, Piñera’s children did not agree.
The cement and concrete company is the main competition of the Colombian group Cementos Argos.
Who bought the participation of Odisea? At the beginning of next month it will be known exactly how the movement was in the Colombian stock market.
????????♂️ Cementos Argos, another company that is doing poorly in the Uribe government
