Bancolombia SA

Grupo Gilinski Ups the Ante on Grupo Suramericana with Enhanced Bids

Event-Driven
154 Views, 20 Jan 2022 03:46
EXECUTIVE SUMMARY
  • Gilinski’s higher price incremental share bids for both Grupo Suramericana and Nutresa are intended to make Gilinski the largest shareholder in Suramericana and the majority shareholder in Nutresa
  • We maintain that this strategy is the next step in Gilinski’s plan to gain control of BanColombia indirectly, and also gain control of Suramericana’s interests in asset management and pensions
  • We see further upside potential for Grupo Suramericana shares, as well as BanColombia shares; the latter are attractively valued versus LatAm peers
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Victor Galliano
Financials & FinTech, EM & Southern Europe
Galliano's Latin Notes
FinancialsEquity Bottom-UpThematic (Sector/Industry)

Victor Galliano is an experienced equity banks analyst, having covered Latin America banks and non-bank financials for o... 

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