Forbes highlight: “With a new Public Tender Offer for up to 11% of Mineros S.A., Sun Valley would increase its shareholding to 68.42%”
Corficolombiana, the second largest shareholder of the mining company, signed an agreement with Sun Valley to sell its 7.96% stake.
Sun Valley Investments AG, co-founded by Mr. Vikram Sodhi, an Indian origin investor educated at Yale University in the United States, launched a new Public Tender Offer (PTO) to acquire between 8% and 11% of Mineros S.A.
With this, Sun Valley’s stake in the mining company, which last year reported revenues of COP $2.2 trillion and a net profit of COP $354,104,440, would exceed 66%.
Corficolombiana holds 23,850,263 shares of the mining company, equivalent to 7.96%, and is the second largest shareholder of the company after Sun Valley (57.42%). This is followed by Negocios y Representaciones (2.03%) and Fondo Bursátil Horizons Colombia Select (1.86%), among others.
In April, Corfi’s board of directors approved a divestment strategy “for some of its marketable equity investments,” including those in Mineros S.A. and Banco de Occidente, whose main shareholder is Grupo Aval.
The purchase price for each ordinary share of Mineros S.A. will be COP $5,500, payable in cash and in Colombian pesos or United States dollars.
As a result of the PTO, the Colombian Superintendent of Finance (SFC) ordered the suspension of Mineros’ shares on the Colombian Stock Exchange (BVC) starting this Wednesday, May 28. As of March 25, the 25 main shareholders of Mineros S.A. were as follows:
| NAME | SHARES | % OWNERSHIPE |
|---|---|---|
| SUN VALLEY INVESTMENTS AG | 170.409.548 | 56,85% |
| CORPORACION FINANCIERA COLOMBIANA S.A. | 23.850.263 | 7,96% |
| NEGOCIOS Y REPRESENTACIONES S.A.S. | 6.091.948 | 2,03% |
| FONDO BURSATIL HORIZONS COLOMBIA SELECT DE S&P | 5.570.529 | 1,86% |
| TORRADO TORRADO MARTHA EUGENIA | 3.332.372 | 1,11% |
| C.I.J. GUTIERREZ Y CIA. S.A. (EN TOMA DE POSESION) | 2.479.632 | 0,83% |
| MARTDOS S.A.S | 1.994.146 | 0,67% |
| VASQUEZ MERCHAN Y CIA S C A | 1.792.682 | 0,60% |
| FONDO BURSATIL ISHARES MSCI COLCAP | 1.463.613 | 0,49% |
| ESCOPIEDRA SAS | 1.366.000 | 0,46% |
| ESCOBAR RESTREPO CARLOS RICARDO RAMIRO | 1.115.357 | 0,37% |
| INVERSIONES SANIN PEREZ SAS | 1.035.299 | 0,35% |
| SELALHIS S.A. | 1.000.000 | 0,33% |
| RODRIGUEZ TORRADO MANUEL ALEJANDRO | 956.420 | 0,32% |
| ARANGO LOPEZ JORGE EUSEBIO | 884.335 | 0,30% |
| ESCOBAR ROMERO JORGE ANDRES | 837.014 | 0,28% |
| INVERSIONES EL YARUMO SAS | 791.584 | 0,26% |
| MART INVERSIONES S A S | 776.116 | 0,26% |
| AYURA SAS | 754.323 | 0,25% |
| INVERSIONES SHAKA SAS | 681.259 | 0,23% |
| MEJIA HERNANDEZ OLGA | 663.507 | 0,22% |
| CORZO PINTO SORAYA | 593.500 | 0,20% |
| MORENO ECHAVARRIA ALFONSO | 563.874 | 0,19% |
| BALEN URRUTIA CARLOS EDUARDO | 523.330 | 0,17% |
| NELLYRAM SAS | 511.027 | 0,17% |
| OTROS ACCIONISTAS COLOMBIA | 45.970.164 | 15,34% |
| CDS + OTROS ACCIONISTAS CANADÁ | 23.729.560 | 7,92% |
| TOTAL SHARES OUTSTANDING | 299.737.402 | 100,00% |
Read the original article in Forbes published on May 27, 2025: Click here.