A new extraordinary meeting of shareholders of Grupo Sura authorized the seven members of the board of directors can decide on the takeover bid launched by the Arab group IHC over Nutresa and that will go from November 3 to 18.
Possible conflicts of interest expressed by four members of the board of directors were raised at the meeting.
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Luis Santiago Cuartas, Luis Javier Zuluaga, Pablo Londoño and Sebastián Orejuela expressed possible conflicts of interest, including blood ties.
In a vote, the assembly authorized them all by majority to continue participating in this decision.
Several interventions raised that by statutes of Grupo Sura, the fourth degree of consanguinity that has been mentioned, does not inhibit the participation in the decision of members of the Sura board of directors who are familiar with members of the Nutresa board.
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Several shareholders intervened for and against the decision for Sura to maintain its shares in Nutresa in the face of the takeover bid. Among these was the representative of Argos and representatives of minority shareholders.
Jaime Gilinski, president of the group that bears his last name, as a shareholder of Grupo Sura, said that the board must analyze “this opportunity for Grupo Sura as they are fiduciarily responsible.”
Gilinski hinted that he is in favor of IHC’s offer, despite assuring himself that he is not associated with IHC.
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