- As a result of this transaction, Grupo SURA´s shareholders shall benefit by directly receiving Grupo Argos shares, while their economic interest in the company will increase by 20%.
- Today, the implementation stage of this transaction shall begin, this taking approximately one month to complete.
- Once completed, Grupo SURA shall have a much more focused portfolio on the Latin American Financial Service sector this through its three main investments, namely Suramericana, SURA Asset Management and Grupo Cibest-Bancolombia.
Grupo SURA hereby announces that on Friday, June 27, 2025, it was notified by the Colombian Superintendency of Finance of its approval of the Partial Spin-Off by Absorption with Grupo Argos and Cementos Argos. From this moment onwards, the implementation stage of this operation shall begin, which will take approximately one month to complete.
Now that the Superintendency has granted its approval to this operation, Grupo SURA shall be moving ahead with becoming a company with a much more simplified structure and a much greater focus on the Financial Service sector through its three main investments: SURA Asset Management, the main pension fund management firm in the region in terms of its volume of assets under management; Suramericana, the fourth largest Latin American insurance company in terms of written premiums; and Grupo Cibest-Bancolombia, the holding company of the leading bank in Colombia with significant operations in Central America. Once this transaction is completed, Grupo SURA shall have increased its shareholder base, thereby democratizing the Organization´s ownership.
"This transaction is an important step towards Grupo SURA´s future development. In this new stage, we have the capabilities as an investment manager along with a portfolio of strong companies that shall allow us to continue creating sustainable profitability while deepening our business footprint, thereby enhancing the value we represent for all our shareholders and consolidating our position as a benchmark financial group in Latin America, based on a long-term vision," stated Ricardo Jaramillo, Chief Executive Officer of Grupo SURA.
This partial spin-off by absorption, as designed based on efficiency criteria and equal treatment for all shareholders, will be implemented in two consecutive stages:
- The spin-off of Cementos Argos in favor of Grupo SURA.
- Then, substantially in a simultaneous manner, the spin-off of Grupo SURA in favor of Grupo Argos and the spin-off of Grupo Argos in favor of Grupo SURA.
Each specific spin-off contemplates a series of sequential steps in terms of its implementation. The Company will inform the market, through the relevant information channel, the material details of each stage. The implementation of this operation does not require any particular action on the part of the Company's shareholders.
To summarize, the sequential time-line of this operation is to be as follows:
"We would like to take this opportunity to thank Grupo Argos and Cementos Argos for helping, together with Grupo SURA, to build up a way of doing business that is committed to the development of society. From the standpoint of our companies, we shall work to ensure that this legacy lasts over time in order to continue contributing to the development and well-being of the territories in which we are present," underscored Ricardo Jaramillo, Grupo SURA’s Chief Executive Officer .
For further details of this transaction and the terms in which it is to be carried out, please refer to the following exclusively dedicated microsite:
