The financial entity Bancolombia fell more than 8% on the stock market in the early stages of the session this Thursday after learning that the Grupo Empresarial Antioqueño (GEA), owner of Bancolombia, has agreed to sell the food company Nutresa to the family Gilinski.
For the market, the movement of the Gilinski group, one of the most important business empires in Colombia, could expand beyond Nutresa, opening the possibility that it intends to take over Bancolombia.
Thus, Bancolombia’s shares fell 8.46% on the Colombian Stock Exchange (BVC) this Thursday, until trading at a price of 28,850 Colombian pesos (6.05 euros).
The purchase ends an 18-month period in which Gilinski, who was a shareholder of Banco Sabadell, has invested approximately 2,700 million dollars (2,520 million euros) in the purchase of shares in Nutresa and Sura.
Under the agreement, the GEA agreed to forego its investments in Nutresa, while Gilinski, for his part, will not invest in Sura or in infrastructure and cement conglomerate Grupo Argos, the GEA’s third pillar.
The value of the transaction was not disclosed. Nutresa’s market capitalization is about 6,000 million dollars (5,600 million euros), according to data compiled by Bloomberg.