Valorem SA’s board approved a plan yesterday for Invernac & Cia., the holding company’s majority shareholder, to spin off assets valued at 472 billion pesos ($263 million), according to an e-mailed statement.
Valorem will receive stakes in Caracol Television SA, Suppla SA, Biofilm SA, Comunican SA and Inversiones Cromos SAS and will issue shares to Invernac & Cia. shareholders. The plan requires shareholder approval, according to the statement.
To contact the reporter on this story: Christine Jenkins in Bogota at email@example.com
To contact the editor responsible for this story: David Papadopoulos at firstname.lastname@example.org