The transaction would be carried out at a maximum price of $130,000 (US$31.55) per share.
Following the complete reconfiguration of its Board of Directors last January, the Nutresa Group entered a new stage under the majority control of the Gilinski family.
It is worth remembering that, almost a month ago, the company confirmed the departure of Carlos Ignacio Gallego, who was its president for more than a decade, as well as the representatives of the Arab partner IHC Holdings.
Jaime Gilinski, as the new president of one of the main food conglomerates in Colombia and the region, will undertake a new financial strategy.
It was learned that the new Board of Directors of Nutresa recommended to the Shareholders' Meeting to approve the repurchase of up to 4,580,000 shares, equivalent to 1% of the total in circulation.
The transaction would be carried out at a maximum price of $130,000 (US$31.55) per share. In addition, it was proposed to increase the Reserve for Share Repurchase, in order to guarantee the necessary resources for the transaction.
This Monday, December 17, Nutresa shares on the Colombian Stock Exchange (BVC) are trading at $125,000 (US$30.33), after a 5.93% increase compared to the previous close.
The new stage of Nutresa
This move is in response to Nutresa's new approach following its departure from Grupo Empresarial Antioqueño (GEA) and the consolidation of Gilinski as the majority shareholder with nearly 85% of the company.
The Shareholders' Meeting will decide on the proposal at its meeting on 17 March.
How was the Nutresa Board of Directors formed?
The new members have a history closely linked to the Gilinski group:
- Jaime Gilinski: businessman from Cali and majority shareholder of Nutresa.
- Gabriel Gilinski: son of the previous one, with extensive experience in the financial sector.
- Angela Maria Tafur: lawyer and former director of ProColombia, key in the development of the OPAs.
- María Ximena Lombana: former Minister of Commerce, elected as an independent.
- Néstor Camilo Martínez: lawyer who has represented the interests of the Gilinskis in the takeover of Nutresa.
