GRUPO DE INVERSIONES

GRUPOSURA
End-of-day quote. End-of-day quote  - 01/19
27250COP 0.00%

Colombia's Grupo SURA says shareholders approve search for strategic partner

11/26/2021 | 10:05am

BOGOTA, Nov 26 (Reuters) - Financial conglomerate Grupo SURA said shareholders had authorized its directors to seek a strategic partner to take a non-controlling stake in Colombia's largest holding company.

Grupo SURA, which is made up of insurer Suramericana and pension fund manager Sura Asset Manager, also owns 20% to 50% stakes in Bancolombia, investor Grupo Argos and processed food company Grupo Nutresa .

"The board of directors of the company ... authorized the board to hire the required advisors - investment banking, legal advice, among others - so that the search process for possible strategic partners interested in having a non-controlling stake in Grupo SURA can continue," Grupo SURA said in a statement to Colombia's financial regulator late on Thursday.

Grupo SURA's net profit in the first nine months of 2021 hit 1.1 trillion pesos ($302 million), while the company recorded consolidated income of 18.3 trillion pesos.

In August the company hiked its income forecast for this year by close to 15%, more than first estimated, due to the better performances of the companies it has holdings in.

The announcement from Grupo SURA comes after Nutresa received an offer for a majority stake from Nugil SAS, which is controlled by financial conglomerate Grupo Gilinski.

Nugil wants to buy between 50.1% and 62.625% of Nutresa's shares at a price of $7.71 per share, valuing the deal at between $1.78 billion and $2.22 billion. (Reporting by Nelson Bocanegra; Writing by Oliver Griffin; Editing by Alexander Smith)

© Reuters 2022
Copier lien
All news about GRUPO DE INVERSIONES SURAMERICANA S.A.
1d ago
3d ago
01/12
01/12
01/07