Assembly of Grupo Argos authorized the Board of Directors to deliberate and decide on the takeover bids for shares of Grupo Sura and Grupo Nutresa

• In compliance with the corporate governance framework of Grupo Argos, the Shareholders’ Meeting authorized Ana Cristina Arango and Claudia Betancourt, members of the company’s Board of Directors, to deliberate and decide on the takeover bids by Grupo Sura and Grupo Nutresa.
• Five members of the Grupo Argos Board of Directors will participate in the deliberations and decisions. Gonzalo Alberto Pérez, president of Grupo Sura and Carlos Ignacio Gallego, president of Grupo Nutresa, will not participate.

With a representation of more than 81% of the shares of Grupo Argos, this Monday, February 21st, in an extraordinary meeting, the Shareholders’ Meeting authorized Ana Cristina Arango and Claudia Betancourt to participate in the deliberations and decisions on the takeover bids for ordinary shares of Grupo Sura and Grupo Nutresa.

Bearing in mind that simultaneous takeover bids for shares of Grupo Sura and Grupo Nutresa are being carried out, Gonzalo Alberto Pérez, president of Grupo Sura and Carlos Ignacio Gallego, president of Grupo Nutresa, will not participate in their capacity as members of the Board of Directors of Grupo Argos in deliberations and decisions.

The Board of Directors of Grupo Argos will carry out a comprehensive analysis of the offers, considering, among others, the studies carried out by a group of national and international advisors on the economic, legal and strategic alignment aspects of the same, on which it will decide in a timely manner.