Billionaire Jaime Gilinski renews assault on Colombia

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Banker makes higher offers for more stakes in food group Nutresa and holding company Grupo Sura

Gideon Long in Bogotá

Banking billionaire Jaime Gilinski has renewed his assault on Colombia’s corporate establishment, significantly increasing his bids to win control of the country’s largest food company as well as its biggest holding group.

Shares in food group Nutresa were suspended on Tuesday after Gilinski announced his latest raid on Monday night, offering $10.48 per share for a further stake of up to 22.8 per cent.

Having acquired a 27.6 per cent interest with his first bid earlier this month, that would give him control of more than half the company. The latest offer price is nearly 36 per cent higher than Gilinski paid first time round and 25 per cent higher than Nutresa’s latest share price.