Grupo Argos S.A. and Grupo de Inversiones Suramericana S.A., Nugil SAS and Jgdb Holding S A/S completed the acquisition of 22.6% stake in Grupo Nutresa S. A. for $1.23 billion.
April 12, 2024
Share
Grupo Argos S.A. (BVC:GRUPOARGOS) and Grupo de Inversiones Suramericana S.A. (BVC:GRUPOSURA), Nugil SAS and Jgdb Holding S A/S made an offer to acquire a 23.1% stake in Grupo Nutresa S. A. (BVC:NUTRESA) for $1.2 billion on June 15, 2023. The shareholders have an option to sell in cash at a value of $12 per share or receive 0.96 shares of Grupo Sura and 0.28 shares of Grupo Argos. The tender offer will close on April 3, 2024. As on March 9, 2024, Grupo de Inversiones Suramericana S.A., Grupo Argos S.A., IHC Capital Holding LLC through the company Graystone Holdings S.A., JGDB Holding S.A.S., and Nugil S.A.S. launched a joint, but not joint and several, Tender Offer to acquire up to 105,730,373 common shares representing 23.10% of the outstanding common shares of Grupo Nutresa S.A. The purchase price for each common share of the Issuer will be, at the option of the Offerees and under the conditions: (i) $12.00 payable in cash or (ii) a combination of securities consisting of 0.7438 common shares in Grupo Sura and 0.5650 common shares in Sociedad Portafolio. Each of the Bidders individually states that the resources used for the payment of the Tender Offer come lawful activities and that they have all the necessary information to prove it. These resources will be sufficient and are available to carry out the operations arising from this
Tender Offer.
Valores Bancolombia S.A. Comisionista de Bolsa acted as broker to Grupo Nutresa. PWC Contadores y Auditores S.A.S acted as Statutory auditor to Grupo de Inversiones Suramericana S.A. (BVC:GRUPOSURA), KPMG Ltda acted as Statutory auditor to Grupo Argos S.A. (BVC:GRUPOARGOS); Ernst & Young Audit S A S acted as Statutory auditor to Jgdb Holding S A/S; PWC Contadores y Auditores S.A.S acted as Statutory auditor to Nugil SAS & Grupo Nutresa S. A. (BVC:NUTRESA).
Grupo Argos S.A. (BVC:GRUPOARGOS) and Grupo de Inversiones Suramericana S.A. (BVC:GRUPOSURA), Nugil SAS and Jgdb Holding S A/S completed the acquisition of 22.6% stake in Grupo Nutresa S. A. (BVC:NUTRESA) for $1.23 billion on April 12, 2024. The result of the transaction was 102,914,771 shares, for a percentage of outstanding shares of 22.6%. Grupo Nutresa SA reported that all stages of the public acquisition offer (OPA) for 23.1% of Grupo Nutresa's common shares have been completed. The operation was formulated jointly and not jointly and intended for all shareholders of this company. As a result, Graystone received 56,692,661 common shares, corresponding to 12.38%, Sura received 36,180,002 common shares, corresponding to 7.9% and Argos received 10,042,108 common shares, corresponding to 2.19% of Nutresa's outstanding shares. JGDB and Nugil received no shares. The joint takeover bid had initially targeted 23.1% of Nutresa, equivalent to 105,730,373 shares.
Grupo de Inversiones Suramericana SA is a Colombia-based company primarily engaged in the life insurance sector. The Company's activities are divided into three business segments: Fund Management, Insurance and Services. The Fund Management division is responsible for the administration of mandatory and voluntary pension funds, as well as provision of life annuities and other savings products. The Insurance segment offers life and non-life insurance policies. The Services area includes outsourcing services in the field of telecommunications and information processing, mandatory healthcare services and medical plans, as well as other complementary services. The Company's investment portfolio comprises Sura Asset Management, Suramericana, Bancolombia, Grupo Argos, Grupo Nutresa, Habitat, Sodhexo and Enka, among others. The Company operates through numerous subsidiaries in Latin America, including Colombia, Mexico, Chile, Peru, El Salvador and Panama, among others.
Grupo Argos S.A. and Grupo de Inversiones Suramericana S.A., Nugil SAS and Jgdb Holding S A/S completed the acquisition of 22.6% stake in Grupo Nutresa S. A. for $1.23 billion.
GRUPO DE INVERSIONES SURAMERICANA S.A. 
