The agricultural input company is subject to the highest level of supervision by the Superintendency of Companies.

The Colombian Superintendency of Companies reported this Wednesday that it denied the sale of assets by Monómeros Colombo Venezolanos to Nitrofert.

The request was received by the entity on February 19, as part of the requirements established for the level of supervision Monómeros is under, the maximum allowed by Colombian law, and technically known as control.

According to the Superintendency, the sale request was denied because it could not be proven that the purpose of the sale was "the preservation of the Company as a productive unit and source of employment, but rather an interest in the sale of undetermined assets," the supervisory entity reported in a statement.

He then added: "Secondly, the information submitted to the Superintendency of Companies, far from being clear, sufficient, and precise, contained no remuneration, established unspecified payments to its principal shareholder, who was not a party to the contract, and did not demonstrate any benefit to Monómeros."

Finally, the Superintendency of Companies also cast doubt on the nature of the buyer, Nitrofert, stating that it was recently established (October 2024) and that, although it claims to be part of a business group, its existence could not be verified.

Monómeros' importance to the Colombian market is well known: it represents around 30% of the fertilizer market, while in a department like Atlántico (where its headquarters are located) the figure is around 80%, while it generates a total of around 600 jobs.

However, its financial situation is complicated. According to financial information reported by the regulatory agency, Monómeros' revenues fell by nearly 20% between 2022 and 2023.