The Gilinski Group, owned by Colombian billionaire Jaime Gilinski, has signed a Memorandum of Understanding (MoU) to take a controlling stake in food producer Nutresa and exit its stake in Grupo Sura, Colombia’s largest investment firm. The agreement involves Aflaj Investment LLC, Grupo Argos, JGDB Holding SAS and Nugil SAS, all part of Gilinski’s conglomerate.
Under the MoU, JGDB and Nugil will acquire a controlling stake of no less than 87% in Nutresa, while Nutresa will exit its stake in Grupo Sura and Grupo Argos. Gilinski’s JGDB and Nugil, as well as their partner IHC Capital, will also exit their stakes in Grupo Sura.
Nutresa is present in 14 countries with 47 plants producing processed meats, coffee, cookies, chocolates, pasta and ice cream, as well as a line of restaurants and ice cream parlors. The agreement between Gilinski and GEA takes place amid a number of legal disputes over alleged wrongdoing during takeover bids.
The MoU sets out the initial terms on which it has been agreed to enter into a series of operations between the parties. This agreement marks a major shift in the Colombian business landscape and will have a significant impact on the country’s economy.