Taking into account the technical and strategic analyzes presented by J.P. Morgan, and the legal analyzes on the offer presented by external legal advisors, among other considerations, the Board of Directors of Grupo Argos decided not to participate in the takeover bid for Grupo Nutresa.
Grupo Argos reiterates its commitment to its shareholders so that they are the ones who perceive the fundamental value of the company and its investment portfolio.
The transaction was promoted by Grupo Argos in its role as an asset manager and majority shareholder of Cementos Argos, marking a significant milestone in the company's history of growth and value creation since its entry into the U.S. market in 2005.
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On Tuesday, June 6th, the symbolic groundbreaking event took place, marking the official start of the construction of Ciudad Mallorquín Park. This project is a collaboration between Grupo Argos' Urban Development Business and the Mayor's Office of Puerto Colombia, aiming to provide the community with a new recreational space spanning 4.5 hectares.
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The Urban Development Business continues to consolidate its leadership in the development of high-quality urban projects and sustainable tourism in the northern region of the country, achieving record revenues of COP 90 billion (+49%), a net cash flow of nearly COP 26 billion (+500%), and in the case of EBITDA, a growth of 322% surpassing COP 38 billion.
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Currently, 43% of the Board of Directors of Grupo Argos is composed of women, including its president.
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