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One of the richest men in Colombia and the royal family of Abu Dhabi seek to control Grupo Nutresa

Posted: 25 Nov 2021 03:18 GMT

His goal is to turn the Medellín-based food processing conglomerate into a global business.

The businessman Jaime Gilinski, one of the richest men in Colombia, and the royal family of Abu Dhabi (United Arab Emirates) have jointly made an offer of 2.2 billion dollars to buy a majority stake in Grupo Nutresa, reported this Monday Bloomberg Line.

Specifically, seek to gain 62.7% of the Medellín-based food processing conglomerate. If successful, the Gilinski Group would have a 50.1% stake in the total acquired, while the Royal Group – an investment vehicle of the Emirati family – would own the remaining 49.9%.

Now Gilinski’s company has to convince a complex group of investors, including Grupo Empresarial Antioqueño (GEA) and multiple pension funds, that the 38% premium is too attractive to pass up.

Plan details

Illustrative image

If successful, his goal is to turn Nutresa into a global food business before targeting acquisitions. “First we have to crawl and walk, then run,” explained the businessman in an interview with his son Gabriel, who also participates in family businesses.

The Colombian billionaire revealed that he has spent the last two years developing the acquisition plan. “I tend to be very, very focused on the details, I do a lot of research “.

Likewise, he explained that if everything goes well it will be “the first of many investments” with the royal family of Abu Dhabi because – he assures – has a great interest in growing both in Colombia and in Latin America. “We have decided to be long-term partners,” he added.

“We will succeed”

The Spanish Justice authorizes the extradition to Colombia of businessman Carlos Mattos, requested by the 'Hyundai case'The Spanish Justice authorizes the extradition to Colombia of businessman Carlos Mattos, requested by the 'Hyundai case'

The offer, which is $ 7.71 per Nutresa share, will close on December 17. “I think we will be successful,” Gilinski said. “It will be a great advance in the capital markets of Colombia to allow a change, which I think is necessary,” he concluded.

At 63, the businessman has a heritage net of more than $ 4.3 billion, according to estimates by Bloomberg. After graduating from Harvard Business School, he returned to Colombia in the 1980s, where he began his career under the guidance of his father, who had a financial company.

In 2003, it bought Banco Sudameris, which is currently also present in Peru and Paraguay. His multi-million dollar empire spans sectors as varied as the media and real estate. It also owns the Four Seasons hotels in Colombia.

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Donna is one of the oldest contributors of Gruntstuff and she has a unique perspective with regards to Science which makes her write news from the Science field. She aims to empower the readers with the delivery of apt factual analysis of various news pieces from Science. Donna has 3.5 years of experience in news-based content creation, and she is now an expert at it. She loves journalism, and that is the reason, she moved from a web content writer to a News writer, and she is loving it. She is a fun-loving woman who has very good connections with every team member. She makes the working environment cheerful which improves the team’s work productivity.

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