Aval’s Sarmiento Purchases 55% Stake in El Tiempo Media Group

Grupo Aval Acciones y Valores (AVAL) SA Chairman Luis Carlos Sarmiento bought a 55 percent stake in Colombian media group Casa Editorial El Tiempo SA from Grupo Planeta SA, according to an e-mailed statement sent late yesterday.

Sarmiento’s Organizacion Luis Carlos Sarmiento Angulo now owns an 88.4 percent stake in El Tiempo, the statement said.

To contact the reporter on this story: Christine Jenkins in New York at cjenkins28@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos at papadopoulos@bloomberg.net

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