Deals
Gilinski’s $1 Billion Bid Raises Stakes in Colombia Battle
- New offers for Nutresa, Sura may run until April, person says
- Move comes after falling short of majority stake in Nutresa
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Jaime Gilinski is making a fresh run at taking control of Colombia’s largest business group with a $1 billion bid to increase his ownership stakes of a financial conglomerate and the country’s largest food maker.
Gilinski, a banking billionaire and one of Colombia’s richest men, is offering to buy as much as $690 million worth of Grupo Nutresa SA, a maker of snacks, chocolates, coffees and cold cuts, for $12.58 a share. A simultaneous offer to investors in Grupo de Inversiones Suramericana SA for $9.88 per share would give Gilinski as much as roughly $300 million more of the banking and insurance holding.