Billionaire Gilinski Bids for Colombia Companies Set to Open - Bloomberg
Billionaire banker Jaime Gilinski’s bids to increase his holdings in two Colombian companies are expected to open in the coming week after gaining regulatory approval, according to a person with direct knowledge of the process.
Gilinski is offering to buy as much as $1.1 billion of shares in foodmaker Grupo Nutresa SA and buy up to $289 million in financial conglomerate Grupo de Inversiones Suramericana. These follow a $1.9 billion investment that closed earlier this month, making him the second-largest shareholder of both companies.
The latest public acquisition offers will be published on Monday and the stocks, which have been frozen while regulators evaluated the proposals, will start trading on Tuesday, according to the person, who asked not to be named as the details have not been made public. The offers will close on Feb. 28 as shareholders decide on his bids, the person said.
Gilinski, one of the country’s richest men with an estimate net worth of $4.4 billion, shook Colombia’s capital markets with his first offer for Nutresa back in November. He followed it with an offer for Sura weeks later.
In the latest bids, he’s offering $9.88 a share for as much as 6.25% of Sura. On Nutresa, he’s teaming up with the Abu Dhabi royal family for a $10.48 a share offer for between 18.3% to 22.88% of the company.
If successful, Gilinski would be a step closer to taking control of Colombia’s most influential business alliance, known as Grupo Empresarial Antioqueno or GEA. In addition to Sura and Nutresa, the GEA also includes the conglomerate Grupo Argos SA, cement and energy producers and the country’s largest bank.
Saturday, 29 January 2022
Boeing (BA) Set to Launch Its First New Jet in Nearly Five Years With #Qatar Deal - Bloomberg
Boeing (BA) Set to Launch Its First New Jet in Nearly Five Years With Qatar Deal - Bloomberg
Boeing Co. is preparing to launch the 777X freighter, its first new jet model in nearly five years, with a 50-plane commitment from Qatar Airways, people familiar with the matter said.
The announcement is set to coincide with a meeting between Qatar’s ruling emir, Sheikh Tamim bin Hamad Al Thani, and U.S. President Joe Biden in Washington, D.C., on Jan. 31, said the people, who asked not to be identified discussing the plans. The potential multibillion-dollar deal would help showcase trade relations between the two nations and could be unveiled at the White House, though the location is still being finalized, the people said.
The Gulf carrier is expected to place a firm order for about 15 of the aircraft, the freighter version of Boeing’s largest twin-engine jet. A combination of options and conversions of existing orders would make up the rest of its commitment, the people said. A Qatar representative declined to comment on its plans. Reuters previously reported Boeing-Qatar talks around the state visit.
The deal comes as Qatar Airways Chief Executive Officer Akbar Al Baker spars with Airbus SE over potential flaws with a passenger version of its A350 airliners. The European planemaker last year unveiled a freighter version of the A350-1000 to challenge Boeing’s decades of dominance of the cargo-jet market.
Wrangling with regulators has delayed the commercial debut of the first passenger 777X by at least three years to late 2023. It’s unusual for a planemaker to sell a freighter variant before the passenger version has hit the market. Boeing’s move reflects the strong market for cargo jets as e-commerce booms, as well as the struggle it faces selling 400-seat planes in a depressed travel market.
Boeing Co. is preparing to launch the 777X freighter, its first new jet model in nearly five years, with a 50-plane commitment from Qatar Airways, people familiar with the matter said.
The announcement is set to coincide with a meeting between Qatar’s ruling emir, Sheikh Tamim bin Hamad Al Thani, and U.S. President Joe Biden in Washington, D.C., on Jan. 31, said the people, who asked not to be identified discussing the plans. The potential multibillion-dollar deal would help showcase trade relations between the two nations and could be unveiled at the White House, though the location is still being finalized, the people said.
The Gulf carrier is expected to place a firm order for about 15 of the aircraft, the freighter version of Boeing’s largest twin-engine jet. A combination of options and conversions of existing orders would make up the rest of its commitment, the people said. A Qatar representative declined to comment on its plans. Reuters previously reported Boeing-Qatar talks around the state visit.
The deal comes as Qatar Airways Chief Executive Officer Akbar Al Baker spars with Airbus SE over potential flaws with a passenger version of its A350 airliners. The European planemaker last year unveiled a freighter version of the A350-1000 to challenge Boeing’s decades of dominance of the cargo-jet market.
Wrangling with regulators has delayed the commercial debut of the first passenger 777X by at least three years to late 2023. It’s unusual for a planemaker to sell a freighter variant before the passenger version has hit the market. Boeing’s move reflects the strong market for cargo jets as e-commerce booms, as well as the struggle it faces selling 400-seat planes in a depressed travel market.
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