Government of Colombia intervenes in Monómeros amid rumors of sale

The government of Colombia adopted an administrative measure of supervision and “control” of the agricultural input producing company, Monómeros Colombo Venezolanos, with Venezuelan capital, given the possibility of the sale of its shares by the management of Nicolás Maduro.

The organization reported this Monday in a statement that it made the decision due to a risk of “insolvency” of the company if it were sold, “given the financing it receives mainly from its associates.”

He explained that a control measure “is the highest degree of supervision, of a corporate nature, that the Superintendence of Companies exercises, preventively, in order to preserve the company as a productive unit and source of employment.”

This is not a takeover or authorization to co-manage the company, the Colombian government agency clarified.

The superintendent of companies, Billy Escobar Pérez, declared that his mission is “to contribute to the growth and preservation of companies” and that they seek to act “opportunely” in the face of possible actions that could entail “possible risks that affect the general interest.”

Monómeros produces almost 30% of the fertilizers in the country and supplies 80% of the Colombian peasantry. Between 2019 and 2022, it was administered by the Venezuelan opposition. Then, the Maduro government regained control with the approval of President Gustavo Petro, who denounced last week his alleged intention to sell it.

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