Grupo Sura denies Boric’s arrival threatens Chile business

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Bogotá, 25 Dec. (EFE) .- The Colombian group Grupo Sura, one of the main financial services conglomerates in Latin America, has denied that it will lose its pension fund business in Chile due to the arrival of leftist Gabriel Boric in the presidency of that country.

The conglomerate, which through its subsidiary Sura Asset Management Chile holds around 20% of the pension fund market in the south of the country, came out with publications containing “inaccurate information”, in a statement released on Saturday.

“In particular, we categorically deny the publications of certain media according to which the victory of Gabriel Boric in the Chilean presidential elections would mean that Grupo Sura would lose its retirement activity in this country. We would like to point out that to date, we are not aware of any decision by the Chilean government in this regard, ”said Grupo Sura.

Boric, who was elected president of Chile last Sunday as a candidate for the Endorse Dignity coalition, which has the backing of the Communist Party, intends to end pension fund administrators (AFP), which are the private companies that run these funds. and change the model to a pay-as-you-go system.

OPA IN PROGRESS

According to the Colombian conglomerate, “inaccurate information” about the future of its pension business in Chile “could affect the confidence of investors and clients of Grupo Sura and its related companies” as the acceptance period begins. of the offer. takeover bid presented by JGDB for its shares.

“We are warning the investing public, our shareholders and the authorities of the risks that could be generated for Grupo Sura and therefore for its shareholders, when erroneous information is published,” the statement added.

The JGDB company, of which the Gilinski family is a part, made a takeover bid last month to acquire at least 25.3% of the ordinary shares of Grupo Sura, a millionaire deal between Colombian giants.

The Gilinski family, associated with the Royal Group, linked to the royal family of Abu Dhabi, also offered in November to buy at least 50.1% of the food giant Nutresa, which like the Sura Group is part of the Group Business Antioqueño (GEA).

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