Sarmiento Angulo is behind the takeover offer submitted by BAC Holding Internacional today

Today, shares of BAC Holding International (BHI) were expected to arrive on the Colombian Stock Exchange (BVC), which emerged after the split between Banco de Bogotá and Leasing Bogotá SA Panama (LBP).

However, without initial listing, it was suspended due to such a tender offer to the Financial Inspectorate of Colombia (SFC). In the afternoon, the bank guarantee project was filed by Rendifin SA, which is controlled by Luis Carlos Sarmiento Angulo and owns 3.6% of Grupo Aval. Second, he would try to increase his participation. BHI.

The bidder requests 5% to 15% of this issuer’s current shares. Each title will be canceled at $293. Exchange-traded papers were expected to be ordinary, with a reference price of $291 each, a face value of $263.9, and an equity value of $306.5.

On March 16, Grupo Aval and Banco de Bogotá asked the Colombian Stock Exchange (BVC) to suspend their shares. The decision was based on the need to improve the aforementioned division process.

In this context, BVC has issued operating instructions, a document in which the process proceeds as follows: first, the separation between Banco de Bogotá and the Bogotá Beneficiary Company came into effect, and in parallel, the separation between Grupo Aval and Sociedad Beneficiaria Aval took place. After these actions were completed, the merger of the rights holders with BAC Holding International Corp, hereinafter referred to as “BHI”, would take place. Bogota and Warranty.

When the Exchange and Deceval receive the commercial register of the public deed formalizing the division of BanBogotá, the shareholders will be entitled to one ordinary share in the Bogotá Beneficiary Company. A similar event will occur at Grupo Aval.

BVC will continue BVC, taking into account that the reference price of the shares of the split companies has been communicated by the issuer and has been reduced according to the initial price and the number of company shares has not changed. to adjust the price of the shares,” the document concludes.

After the transaction, the shareholders of Banco de Bogotá and Grupo Aval will directly own 75% of Leasing Bogotá Panamá (LBP), while Banco de Bogotá will own 25% and LBP will continue to own the full stake. BAC Credomatic.

Source: Lare Publica

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