JD de Sura approved agreement for the exchange of shares of Nutresa

Through a statement, Grupo Sura announced that its board of directors approved progress in the execution of the agreement for the exchange of shares of Grupo Nutresawhich was previously announced to the market on June 15.

(More news: Grupo Argos approved the exchange of Grupo Nutresa shares)

As reported by the entity, the pertinent corporate authorizations have been obtained regarding the also known as the ‘Framework Agreement’, which will result in
divestment by Grupo Sura of its participation in Nutresa’s food businessa company in which it owns a 35.6% stake.

In exchange, the financial holding company will receive shares of Grupo Sura and of a new portfolio company, which “It will be split by Grupo Nutresa, which in turn will own the shares that Grupo Nutresa currently has in Grupo SURA and Grupo Argos.”

The company also informed that its board of directors considers that this decision will benefit Grupo Sura and all its shareholders, “when carried out in fair terms of exchange, enable the advancement in the targeting of the investment portfolio in financial services and the evolution of the ownership structure”

(Read more: Majority shareholder of Grupo Éxito rejected Gilinski’s offer)

The same way, the board approved the execution of all operations necessary for the implementation of the contracts to carry out the exchange and authorized the legal representatives to sign and carry out all the acts that are necessary for such purposes.

In addition, Sura pointed out that “The closing of this concerted operation between Grupo Sura and the other parties will imply the definitive solution of the business disputes that arose in the framework of the takeover bids that began in November 2021.”