More than 10 months after the first takeover bid for Nutresa was presented, this week a new move was made by the food multilatina, which is seeking between 25% and 31.25% of that issuer. The price offered is $15 per share, which in local currency is $66,305, 79% more than the price at which the stock closed on the day the takeover bid was announced.
This time it was not Jaime Gilinski himself who made the offer, but rather International Holding Company (IHC), a publicly traded Abu Dhabi-based company comprising more than 100 entities with international operating segments and acquisitions in nine business segments.
Tahnoon bin Zayed Al Nahyan is the chairman of the company, brother of Sheikh Mohamed bin Zayed Al Nahyan, president of the United Arab Emirates. He also chairs the Royal Group of Abu Dhabi, a company that backed Gilinski’s past bids for GEA companies.
In addition, it leads other business groups, such as First Bank of Abu Dhabi (FAB), the largest bank in the Emirates with a presence in different continents such as Europe, Asia, the Middle East and America, which has obtained multiple awards for its growth. In fact, that same bank is the largest owner of IHC. He also heads ADQ and G42, a leading cloud computing and artificial intelligence group.
The estimated fortune of the royal family is close to 320,000 million dollars, of its assets in business in different sectors. In fact, in 2020 he acquired the New Castle football team and invested money in Elon Musk’s company, SpaceX.
In the first half of the year, IHC posted a profit record, as revenue grew 121% to $5.985 million, compared to the same period in 2021. In addition, net profit increased 137%, according to its financial statements.
This is not the first time that the company would invest in Colombia, because according to market players, IHC would be a partner of the Gilinski Group. Indeed, in the three Sura OPA booklets, it was reported that a letter was signed with IHC Capital Holding LLC stating its intention to participate in the future as a non-controlling shareholder of Jgdb Holding, the company through which the out the offers by the insurance and investment company.
“I would not dare to say that the Gilinskis are directly involved in this transaction. Now, what is certain is that this fund and the Gilinskis have been related and share investments. On the speculative level, there is the possibility that what Colombian investors did was get the shares at the lowest possible price so that they would later repurchase them,” says Diego Márquez, a consulting lawyer in business affairs and founder of the firm Márquez Arango.
According to the financial statements reported by IHC in August of this year, the company owns 25% in Lulo Bank, a financial entity of the Gilinski Family.
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