Nearly seven months after Gilinski’s first takeover offer came out for the Sura Group, Jaime Gilinsky had three seats on the company’s board, with Gabriel Gilinsky and Angela Maria Tavor, as stock members; and Jose Luis Suarez Parra, as a freelancer.
At approximately 9:00 a.m. on Monday, the extraordinary meeting of shareholders of the insurance and investment company took place in the Siglo XXI room of the Executive Country Club in Medellin. There they met “Cocoa” from the Antioquia Business Group (GEA) and new shareholders in the Paisa consortium.
After completing most of the scheduled agenda, a new Board of Directors was elected, despite the fact that a little over two months ago a guide for the current year was appointed, in the Ordinary Assembly, when the Cali businessman was awarded two chairs.
Thus, the largest corporate body will consist of stock members Gabriel Gilinsky, Jorge Mario Velasquez, Alejandro Pedraita Borreiro and Angela Maria Tavor.
As for the independent members, the names that will sit at the main table will be: Jaime Bermúdez, Maria Carolina Arango and Jose Luis Suarez, the latter of which was proposed by the Cali businessman.
Previously, the Insurance and Investment Company published, on its website, the proposals of the company’s main partners to integrate the new administrative body. however, Remarkably, Grupo Nutresa’s president, Carlos Ignacio Gallego, who was part of the board as a co-owner, was not on the list..
With this said, this is the first time in recent years that Grupo Nutresa is not part of Sura’s board of directors.
The change in the council is no accident. Pending the announcement by Nutresa and Sura of the formation of their updated stakes no later than June 30, the Cali entrepreneur owns 34.5% of the outstanding common stock in Inversiones Suramericana. however, If it is confirmed that it has bought 14.2 million bonds in the public market, it will own 37.6% of the shareswhich would be only 12.5% away from direct control of this company.
According to Andres Moreno, a financial and stock market analyst, positions on the board of directors are worth anything. “Once the Msci Colcap was rebalanced, Gilinski was able to buy a large number of shares outside of the takeover bids. He said he wasn’t missing much and certainly the moves on the stock exchange show he was buying until last Tuesday or Wednesday.
Today, the Cali entrepreneur is followed by partners such as Grupo Argos with 27.6% of the company; Grupo Nutresa by 13%; 6% Argos cement; Grupo Argos Foundation, 2.28%; and a minority of other shareholders at 16.62%.