Grupo Argos' Assembly authorized the Board of Directors to deliberate and decide on the takeover bid for Grupo Sura

• In compliance with Grupo Argos’ corporate governance framework, the Shareholders Assembly authorized Ana Cristina Arango and Claudia Betancourt, members of the company’s Board of Directors, to deliberate and decide on the takeover bid for Grupo Sura.
• Five members of the Board of Directors of Grupo Argos will participate in the deliberation and decision. Gonzalo Alberto Pérez, President of Grupo Sura and Carlos Ignacio Gallego, President of Grupo Nutresa, will not participate in the deliberation and decision.

​With a representation of more than 84% of Grupo Argos shares, this Tuesday, January 4, in a special meeting, the Shareholders Assembly authorized Ana Cristina Arango and Claudia Betancourt to participate in the deliberation and decision on the takeover bid for Grupo Sura common shares.

Considering that simultaneous takeover bids are being carried out for Grupo Nutresa and Grupo Sura shares, Carlos Ignacio Gallego, President of Grupo Nutresa and Gonzalo Alberto Pérez, President of Grupo Sura, will not participate in their capacity as members of the Board of Directors of Grupo Argos in the deliberation and decision regarding the takeover bid for Grupo Sura.

The Board of Directors of Grupo Argos will conduct a comprehensive analysis of the bid, considering, among others, the studies conducted by a group of national and international advisors on the economic, legal and strategic alignment aspects of the bid, on which it will make a timely decision.