Billionaire banker Jaime Gilinski’s bids to increase his holdings in two Colombian companies are expected to open in the coming week after gaining regulatory approval, according to a person with direct knowledge of the process.
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Gilinski is offering to buy as much as $1.1 billion of shares in foodmaker Grupo Nutresa SA and buy up to $289 million in financial conglomerate Grupo de Inversiones Suramericana. These follow a $1.9 billion investment that closed earlier this month, making him the second-largest shareholder of both companies.
The latest public acquisition offers will be published on Monday and the stocks, which have been frozen while regulators evaluated the proposals, will start trading on Tuesday, according to the person, who asked not to be named as the details have not been made public. The offers will close on Feb. 28 as shareholders decide on his bids, the person said.
