With the suspension of the shares of the Sura, Nutresa and Argos groups from operations on the Colombian Stock Exchange (BVC) until June 15, The execution of the agreement between the directors of said organizations and the Gilinski family began this Thursday, which will allow this, after 18 months of strong disputes, to take over at least 87 percent of Nutresa in exchange for its departure as a shareholder of Grupo Sura.
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This departure not only satisfies the parties involved, to the extent that this dispute over control of these business organizations is put to an end, but also all the judicial processes that began in the middle of that fight, which was wearing out investors, affected the performance of the companies and harmed their minority shareholders.
Sources close to the process indicated that The process that will allow Nutresa to be separated from the so-called Grupo Empresarial Antioqueño (GEA) will take at least two months. Time that will be added to the couple of months that it took the directors of the GEA companies and the Gilinskis to reach an agreement, after several meetings in Abu Dhabi, where the partner of the Colombian investors in the Nutresa business is located, as well as in Spain.
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Gabriel and Jaime Gilinski attended their first Grupo Nutresa shareholders meeting held in Medellín.
Time / Courteous
As was known, what follows now is the announcement of the pre-agreed operation between the GEA and Gilinskiwhich must be done at least 30 days in advance, to the market authorities and to the market itself, as well as the development of public offerings of shares (takeover bids) due to the cross-shareholdings held in said companies.
As of Thursday, no application had been filed with the Financial Superintendence. For some analysts, without a doubt, this agreement is good news for the market because it not only ends the tension between the two investors, it will positively impact the shares and contribute to generating greater value for the companies, says Steffanía Mosquera, from Credicorp Capital .
Once the process is finished the GEA will concentrate the financial and insurance business through Grupo Sura, while the infrastructure and energy business will do so with Argos. Meanwhile, the Gilinski family will focus on the food business by becoming the majority owner of Grupo Nutresa.
(In addition: These are all the Nutresa brands that change ownership after an agreement with Gilinski).
In fact, this was the initial objective of the Valle del Cauca investors when they launched the first takeover bid for Nutresa, on November 10, 2021, led by their partner, the Arab sheikh Tahnoon bin Zayed al Nahyan, who controls the international firm Royal Group, of Abu Dhabi, and who played a key role in the approaches to reach an agreement with the GEA directives.
So, what is coming for Nutresa is a strong expansion plan that will allow it to have production plants in Africa, Indonesia and several European countries, where Zayed al Nahyan has business in the food sector, through other companies he controls.
Nutresa will go from being a Colombian multilatina to becoming the first world-class food processor, not only with its own production plants on other continents, but also due to its level of exports of food products.
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For this, the organization has the support of its foreign partner, which will allow it to make the necessary investments to achieve these purposes.