Billionaire banker Jaime Gilinski signed a deal that will give him and Abu Dhabi’s royal family control of Colombia’s largest foodmaker, Grupo Nutresa, bringing to an end a drawn out takeover battle against the country’s most powerful business group.
Shares of the companies involved in the deal climbed Friday as trading resumed for the first time since it was announced last month. Preferred shares in Grupo Sura surged 22% and those in Grupo Argos jumped 11.3%. Nutresa rose as much as 10% before paring gains.
Gilinski and a division of the Royal Group have finalized the complex stock-exchange agreement with Sura and Argos — both of which are Medellin-based conglomerates — according to filings posted by Colombia’s financial regulator. The transaction is subject to approval from local authorities.
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