Gilinski’s bid for Colombia’s Grupo Argos declared void
BOGOTA, July 6 (Reuters) – Tycoon Jaime Gilinski’s bid for a large stake in Grupo Argos, Colombia’s biggest industrial conglomerate, was declared void on Wednesday after failing to receive acceptances for a minimum number of shares .
Nugil SAS, controlled by Gilinski, had offered to acquire between 26% and 32.5% of Grupo Argos at a price of 4.28 dollars per share.
By the end of the offer period, Gilinski had received acceptances for its acquisition of only 73,466,106 shares of Grupo Argos, or 11.08% of the outstanding amount.
“The offer to purchase ordinary shares of Grupo Argos, addressed to the shareholders of the issuer, has been declared void due to the fact that during the period of the offer, the minimum number of shares that NUGIL SAS has offered to purchase was not accepted,” the exchange said. in a report.
In recent months, Gilinski – owner of GNB Sudameris Bank and one of Colombia’s wealthiest businessmen – has launched takeover bids for investment holding company Grupo SURA and Nutresa, the largest processed food producer.
Grupo Argos is a holding company. Through the companies Cementos Argos, Celsia and Odinsa, it operates in cement, in road and airport concessions, and in conventional and renewable energies.
Grupo SURA, Nutresa and Grupo Argos are part of the so-called Grupo Empresarial Antioqueno, a conglomerate in which hundreds of companies are partners. (Reporting by Nelson Bocanegra; Writing by Carolina Pulice; Editing by Bradley Perrett)