After a protracted battle to win control of Grupo Nutresa, Colombian billionaire Jaime Gilinski is banking that his deal partner, Abu Dhabi’s Sheikh Tahnoon bin Zayed al-Nahyan, will help turn the Latin American food company into a global player.
The 65-year-old Colombian financier, his son Gabriel and International Holding Company (IHC), an Abu Dhabi investment vehicle controlled by Sheikh Tahnoon, brother of the UAE’s ruler, outlined this month a deal whereby they will emerge as the majority owners of the Medellín-based group.
The stakebuilding campaign has been hailed as an instant bargain by analysts: the new owners spent a total of $2.7bn in eight separate share tenders over 18 months to amass their stake and Nutresa, whose products span chocolate to cold meat cut, is now valued at about $6.4bn on the Bogotá stock exchange.
Read the full story on the Financial Times here.