This Wednesday begins a new takeover bid for the Gilinski group for Sura

In the last few hours, the opening of the third Public Takeover Offerings (OPA) that the Gilinski Group has made available to obtain titles from the Sura and Nutresa groups, of which they already hold 31.5% and 30.8%, respectively, has been made official. The goal of the Gilinskis, especially Jaime, is to win over shareholders who, for a long time, have been reluctant to discuss the sale. In the case of Sura, an addition of titles between 5.2% and 6.5% is intended; on the Nutresa side, they range from 9.6% to 12%. They could modify any of the ceilings if they manage to take the most desired actions.

The new bids for the companies of the Antioqueño Business Group (GEA) will run from Wednesday until April 25, a period of 12 working days which, according to the conditions of the operation, could be extended by another 18 working days. According to a note published by Portafolio, Gilinski would be willing to pay US $12, 58 per species in relation to Nutresa shares, and about US $9.88 in Sura. “In the case of Nutresa, the lows or maximums to buy could be released depending on whether they want to sell them less than the minimum or more than the maximum. In the case of Sura, the maximum will not move to buy, so there would be prorated if they offer them more shares than they are looking for,” reports the newspaper.

An interesting fact, points out Diego Vargas Riaño for El Colombiano, is that when compared with the price that these shares had before the first takeover bid (November 10), the premium offered by Gilinski for each Sura title is 73.5%, and in Nutresa it is 115.4%, bearing in mind that for the date in question the securities of those companies ended up at $21,200 and $21,740, respectively. To date, he continues, the fractions of the food holding company and those of the investment management company have gained more than 60% after Gilinski's first bid. Taking into account that yesterday the Sura title closed at $35,990 and that of Nutresa at $47,180, there is an increase of 69.7% and 117%, respectively, compared to the performance of November 10.

What the entrepreneur would seek, what would be in his greatest interest, is to remain the largest shareholder of Nutresa, while in Sura what he wants to achieve is to consolidate himself as the main individual shareholder. The bet would be to convince minority shareholders, who would not have been seduced by their previous proposal and have a significant stake in the company. After his arrival on the boards of directors of the two companies, Vargas Riaño retakes, the new partners, headed by Jaime Gilinski, assured that they want to contribute their experience and portfolio and particularly in Sura they suggest reducing debt and increasing dividends, while at Nutresa they value opportunities to continue growing.

Portfolio quotes Daniela Triana, a specialist in equities, to talk about the fact that the two operations will be slow, as the two initial takeovers were not sufficiently received. There are not many shareholders and possibly the GEA companies would not be willing to sell. On Tuesday, Nutresa was valued at the BVC and it is certain that the shares will be listed. The specialist believes, the newspaper reports, that in the Sura Group there may be a greater number of shareholders willing to sell because a fourth takeover bid would be unlikely, unless the Gilinski Group wants the GEA to sell, even at a much higher price.

During this third takeover bid, Gilinski will have the possibility of extending the acceptance period until May 19 and the payment of the shares will be made with the TRM on the day the Stock Exchange awards the purchase.

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