However Grupo de Inversions Suramericana (Grupo Sura) and Grupo Argos have made it clear since the first takeover bid for Nutresa launched by the Gilinsky family along with their Arab partners in November 2021 that they will share between 35.2 and 9.94 percent. not interested in selling. , respectively, the new offer in the said company which has just been launched IHC Capital Holding The food processor has thousands of minority investors at $15 per share, but the big guys are doing the math, too.
It is not for less, some market analysts agreed, as it is by far the highest price offered by titles. nutresa Registered since the quest for control of the company began in November 2021, and it significantly changed its shareholding structure after three takeover bids, making the firm the second largest shareholder. Nugil SAS (31.09 percent), the Gilinsky family and the Royal Group of Abu Dhabi own 50.1 percent, with the remaining 49.9 percent, a fund controlled by the Royal Family of the United Arab Emirates (UAE).
IHC Capital Holding is the company that has launched a fresh takeover bid to take control of between 25 and 31.25 percent of the shares in this company and will be willing to pay a total of ₹2,140 million to those who decide to sell it. dollars if he manages to achieve the desired maximum.
Tahnoon bin Zayed Al Nahyan, Arab Shaikh, who heads the said firm, is also a part of it. The board of the Royal Group of Abu Dhabi, which today, through its partnership with the Glinsky family in Newgil, controls approximately 16 percent of Grupo Nutresa.
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Minority shareholders included Micro Inversions SAS (2.37 percent), iShares Colcap Stock Market Fund (1.4 percent), Libreville SAS (1.2 percent), Fundación Fraternidad Medellin (0.98 percent), Finster SAS (0.83 percent) and Multiversion Bolivar SAS (0.62 percent). Are included. , among many others.
However, more than 76 percent of Nutresa is in the hands of three partners: Grupo Sura (35.2 percent). nugilo A variable income analyst says that (31.09 percent) and Grupo Argos (9.94 percent) and it is to these that the takeover bid will be directed.
“One can understand that they launched a takeover bid at a very attractive price to put pressure on the three large shareholders, of whom are Surah and Argos“, pointed out the expert, who says that this will be “an additional pressure for the GEA (Grupo Empresarial Antioqueno), which, according to Gilinskis, will act as an economic grouping”.
An analysis of the situation by Grupo Alianza indicates that the Gilinskis aim to break the castle that existed between companies controlled by the GEA and gain control of Nutresa.
“Considering, its current percentage in Surah (38%), as well as what is in Nutresa (13%) in the group, a control of the latter, will automatically give control in Sura, as well as in subsidiaries And Grupo Argos Because of the above, it is possible to understand that with the Nutresa takeover bid, not only are Nutresa controlling premiums being paid, but also Grupo Sura, Grupo Argos and 46% of Bankolombia,” the Alliance warns analysts.
Among stock market analysts, there is no doubt that the price offered in this bid for Nutresa shares is quite attractive, and there is no doubt that many will choose to take the offer, including Gilinsky himself. who will have to sell their stake. would represent approximately 9 billion pesos.
For Sura and Argos, this would be a very interesting proposition that could leave them with fairly comfortable cash that would allow them to generate more profit for their shareholders and pay off their debt, as a sale would cost Sura 11 billion pesos and would represent approximately 3. Argos from Arabia, says that the source consulted.
“It would be a huge advantage if the operation can be completed this year before tax reform is approved, there is another element to keep in mind at this point of time,” he said.
Although the new takeover bid for Nutresa’s shares is being made through another company that was offered with Nugil in the first three operations, if the buyout (between 25 and 31.25 percent) is finalized on the occasion. Granted, I would leave the UAE Arab family with a split between 41 and 47.2 percent in Nutresa, according to the market’s first count.
What is IHC?
IHC Capital Holding is one of the 100 largest companies in the Middle East and its board of directors is headed by Sheikh Tahnoon bin Zayed Al Nahyan, who is also formerly the chairman of the board of Abu Dhabi Bank, an institution. Back guarantee for the acquisition of Nutressa.
On the other hand, according to Alianza, in the offer book for the takeover bid for Sura (January 2022), JGDB Holdin from the Gilinsky family, which today controls 38 percent of Sura, reported an agreement so that IHC could in the future . Be a non-controlling shareholder in JGDB’s capital, of course if the Financial Superintendence approves it.
According to information gathered by Bloomberg, IHC is the largest company by market value in the UAE and is led by Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security adviser and brother of the president.
IHC, whose market capitalization has grown to $170 billion in just a few months, is controlled by the Royal Group, a group that backed Gilinsky’s bid for Nutressa and named Sheikh Tahnoon as its chairman.
IHC seeks to diversify the UAE’s economy and promote it to deploy its oil flows abroad. His investments range from Elon Musk’s SpaceX to Local Fisheries to Abu Dhabi’s biggest real estate manager.
The firm plans to invest billions of dollars in markets such as Colombia, its chief executive officer told Bloomberg last month. IHC will focus on sectors such as food, infrastructure and health care, with investments ranging from $1 billion to $5 billion depending on the country and the occasion, it said at the time.
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