- This divestment responds to the strategic priority of Grupo SURA to concentrate the capital invested in its main financial services businesses.
- Sodexo parent company will acquire the participation that SURA had for 24 years, which reaffirms the confidence in the country, by this French multinational.
- The operation includes the shareholdings held by Grupo SURA and Suramericana in the companies Sodexo Benefits and Sodexo On Site.
After 24 years of establishing a fruitful partnership and being the local partner for Sodexo to invest in Colombia, Grupo SURA and Suramericana agreed with the French multinational that it acquires its minority shareholdings in the local operation of Sodexo Benefits, which offers incentives for quality of life of employees, and in Sodexo On Site, dedicated to food services and maintenance of facilities for companies.
In the mid-1990s, while Colombia faced major social and economic challenges, the Company became a promoter of foreign direct investment by being the local partner of international players such as Sodexo to encourage and accompany them to install their operations in the country , generate employment, local development and economic growth.
Now, the sale of the stake in Sodexo Colombia is agreed, in line with the strategic priority of Grupo SURA to focus on its main financial services businesses, through its South American subsidiaries (insurance and trend and risk management), SURA Asset Management ( pensions, savings, investment and asset management) and as the main non-controlling shareholder of Bancolombia.
"After years of a successful partnership, we take this step according to the route we define and which seeks to focus the portfolio on our core of financial services, also strengthening the strategy of gradually reducing debt and ensuring a capital allocation consistent with the plans that we have. At the same time, we highlight the fact that Sodexo renews confidence in Colombia by acquiring our participation and expanding its participation in this local operation”, said David Bojanini, President Grupo SURA.
The transaction was agreed with Sodexo at COP 74,066 million (USD 21.6 million), which adds a 49% stake in Sodexo Benefits and 35% in Sodexo On Site.
“There is no doubt that having a partner like SURA in these 24 years of operation in Colombia has been very fruitful. We identify ourselves in ethical values and principles, so we will continue working to continue developing solutions for the quality of life of our clients and consumers, with a focus on innovation and sustainability of where we operate. The investment that Sodexo makes today in Colombia shows the confidence we have in the country, in the clients and the more than 10 thousand direct collaborators that support our operations. We continue to believe in Colombia, a role model country for the more than 72 countries where we operate in the world”, said Patrick Boulier, President of Sodexo On-Site for Latin America.
Finally, both business groups will maintain the historical and positive commercial relationship they have had in Colombia, thanks to which Sodexo has been a supplier of SURA companies in the country. Likewise, the joint work for the sustainable development of Colombia will continue, through the Solutions Alliance, led with Sodexo since 2008 for the labor inclusion of victims and ex-combatants of the Colombian armed conflict.