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Gilinski Faces Moment of Truth as Colombia Bids End

  • Tender offers for Grupo Sura and Nutresa expire this week
  • As of Friday, 15.6% of Nutresa, 13.8% of Sura were tendered

Billionaire Jaime Gilinski has shaken the normally sleepy Colombian markets with bids worth as much as $3.4 billion to take substantial stakes in the nation’s biggest foodmaker and a financial holding company. Now, with both offers expiring this week, he’ll find out just how successful he was in wooing shareholders. 

Investors in Grupo de Inversiones Suramericana SA have until Tuesday afternoon to tender their shares, with Gilinski and his son, Gabriel, offering to buy as much as 31.68% of the holding company for $8.01 per share. A day later, the bid for Grupo Nutresa SA expires. In that one, Gilinski teamed with the royal family of Abu Dhabi to offer $7.71 a share for as much as 62.6% of the maker of snacks, chocolates, coffee and other food.