Displaying items by tag: Grupo SURA

Colombia: Jorge Mario Velásquez, the president of Grupo Argos, has revealed the group’s plans for its subsidiary Cementos Argos, following its sale of a 31% stake in US-based Summit Materials in February 2025. Mario Velásquez told the El Colombinao newspaper in an interview that, in the short term, around US$3bn is being invested in fixed-income securities in the US. In the medium term, the company is evaluating investment opportunities in heavy building materials and logistics companies. The latter sector is being considered to maximise the reach of existing production capacity. He added that aggregates in the US are being looked at. However, the company is prepared to consider investing elsewhere.

In March 2025 bondholders and shareholders of Grupo Argos and Grupo Sura agreed to a spin-off agreement to dispose of cross-shareholdings between the conglomerates.

Colombia: Grupo Argos and finance conglomerate Grupo Sura have signed a spin-off agreement to dispose of their cross-shareholdings. This includes Grupo Argos subsidiary Cementos Argos’ stake in Grupo Sura. Grupo Argos will continue to focus on building materials and allied sectors.

President Jorge Mario Velásquez of Grupo Argos said “The cross-shareholding structure has far exceeded its objective: Grupo Argos consolidated its presence across the Americas, achieving compound annual growth of 21% in shareholder equity over the past 46 years and positioning Cementos Argos, utilities provider Celsia and construction firm Odinsa as regional leaders in their sectors. The simplification of the shareholding structure and portfolio will become another significant milestone in the disclosure and transfer of value to all Grupo Argos shareholders.”

Colombia: Grupo Gilinski has increased its stake in Grupo SURA by 7.7% to 32%. Grupo SURA controls a 36% stake in Grupo Argos, the parent company of Cementos Argos and US-based Argos USA. The deal awaits validation and agency approval.