After the agreement reached with the Gilinski family, what will the transformation of the GEA be like? – Companies – Economy

The agreement reached by the Gilinski family and the directors of the Sura, Nutresa and Argos Groupsit means a change of focus of the so-called Grupo Empresarial Antioqueño (GEA), to which these organizations belong.

Under the agreement, JGDB and Nugil, companies controlled by the Gilinski Familywill acquire a controlling interest in Grupo Nutresa -not less than 87 percent of the shares- in exchange for Grupo Nutresa ceasing to be a shareholder of Grupo Sura and Grupo Argos.

(Also read: After agreement, Gilinski stays with Nutresa and leaves Grupo Sura)

In turn, the companies under the control of the Gilinskis, JGDB, Nugil and IHC Capital Holding LLCthey must leave their shares in Grupo Sura, while the latter organization and Grupo Argos will leave their shares in Nutresa.

Although the GEA does not exist as a registered entity, for more than four decades it has been an organization that brings together large firms that currently includes the Sura, Nutresa and Argos conglomerates, with businesses, commercial relationships and cross-shareholdings.

By applying yesterday’s agreement, the GEA will only cover Sura and Grupo Argoswhile Nutresa will leave the cross-shareholdings with which it sought to protect assets.

Grupo Argos owns 28.1 percent of Grupo Sura, while Nutresa owns 13.3 percent of that same financial conglomerate. In turn, Grupo Sura controls 35.2 percent of Nutresa’s shares, while Grupo Argos owns about 10 percent of the food matrix.

Regarding Grupo Argos, Sura owns 35.2 percent of the property and Grupo Nutresa has 12.4 percent. The GEA has horizontal relationships and, despite the fact that each group is independent, there has been coordination in business, operations and transactions between them.

With the takeover bids launched by Gilinski, the investor changed 38 percent of Sura and close to 32 percent of Nutresa. With yesterday’s agreement, it will raise that quota to close to 87 percent in Nutresa.

(Also read: These are all the Nutresa brands that changed ownership after an agreement with Gilinski)

This is how business changes at the GEA

So things, the GEA will concentrate the financial and insurance business through Grupo Sura, while Grupo Argos is focused on infrastructure and energy. Meanwhile, the Gilinski family will focus on the food business by becoming the majority owner of Grupo Nutresa.

Therefore, will control around 60 brands which are consumed daily by Colombians and which are divided into meat, cookies, chocolates, coffees, Tresmontes Lucchetti, consumer foods, ice creams and pastas.

Among the best known are Ranchera, Zenú, Rica, Pietrán, Noel, Ducales, Festival, Dux, Tosh, Jet, Jumbo, Corona, ChocolistoMont Blanc, Nucita, Sello Rojo, Colcafé, Matiz, El Corral, Beer Station, Papa Johns, Crem Helado, Polet, Aloha, Bocatto and Doria.

(Also read: Who are the owners of Homecenter and how did they start?)

Suspension on the Stock Market

This agreement has led the Financial Superintendence of Colombia to authorize the suspension of trading of the shares of these companies on the Colombian Stock Exchange (BVC) from today, May 25, until June 15, inclusive.

In the case of Grupo de Inversiones Suramericana (Grupo Sura), trading of common and preferred shares will be suspended: GROUP and PFGROUPwhich closed yesterday at 40,100 pesos (-0.25 percent) and 11,250 pesos (1.83 percent), respectively.

This suspension also applies to the common shares of Grupo Nutresa, which will now be owned by the Gilinski family. The title closed the day this Wednesday at the BVC with a price of 57,800 pesos and a fall of 3.63 percent.

Another of the companies involved in this operation is Grupo Argos, therefore the negotiations of the species GRUPOARGOS and PFGRUPOARG They will also be suspended until June 15.

The ordinary share of Grupo Argos closed yesterday at 9,350 pesosa fall of 1.27 percent, while the preferential one remained at 5,390 pesos, after an appreciation of 1.89 percent.

The suspension of these shares is done so that the investors of the common and preferred shares of the companies involved have sufficient information to make their investment decisions.