{"id":1294,"date":"2025-03-07T14:44:00","date_gmt":"2025-03-07T19:44:00","guid":{"rendered":"https:\/\/sunvalleyinv.com\/?p=1294"},"modified":"2025-08-26T14:51:10","modified_gmt":"2025-08-26T19:51:10","slug":"as-featured-in-halcones-y-palomas-the-moreno-echavarria-family-withdrew-their-takeover-bid-for-mineros-indian-investor-vikram-sodhi-wins-his-bet","status":"publish","type":"post","link":"https:\/\/sunvalleyinv.com\/es\/as-featured-in-halcones-y-palomas-the-moreno-echavarria-family-withdrew-their-takeover-bid-for-mineros-indian-investor-vikram-sodhi-wins-his-bet\/","title":{"rendered":"As Featured in Halcones y Palomas: \u201cThe Moreno Echavarr\u00eda Family Withdrew Their Takeover Bid for Mineros: Indian Investor Vikram Sodhi Wins His Bet\u201d"},"content":{"rendered":"<p>\u201c<a href=\"https:\/\/www.halconesypalomas.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Halcones y Palomas<\/a>\u201d has recently highlighted us in an article. Translation by Sun Valley Investments.<\/p>\n\n\n\n<p><strong>Medell\u00edn<\/strong>&nbsp;\u2013 The firm&nbsp;<em>Negocios y Representaciones<\/em>&nbsp;requested that the Colombian Stock Exchange release the bank guarantee it had provided for the purposes of the Competing Public Tender Offer for the ordinary shares of&nbsp;<em>Mineros S.A.<\/em>(TSX: MSA) (CB: Mineros).<\/p>\n\n\n\n<p>This means that the company owned by brothers Alonso and Octavio Moreno Echavarr\u00eda, the second-largest shareholders of the mining company, is abandoning its attempt to acquire another significant controlling stake in the company.<\/p>\n\n\n\n<p><em>Negocios y Representaciones<\/em>&nbsp;requested that the Competing Takeover Bid be considered null due to the formulation of the&nbsp;<strong>Enhanced Competing Offer<\/strong>&nbsp;by&nbsp;<em>Sun Valley Investments<\/em>, led by Indian investor&nbsp;<strong>Vikram Sodhi<\/strong>.<\/p>\n\n\n\n<p>Sun Valley raised its offer to&nbsp;<strong>5,500 Colombian pesos per ordinary share<\/strong>&nbsp;in the initial bid and is now aiming to acquire another&nbsp;<strong>27% of Mineros<\/strong>. The firm claims to have&nbsp;<strong>428,624 million pesos<\/strong>&nbsp;available for the acquisition, which would result in securing a&nbsp;<strong>majority stake in the company<\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-text-align-center\">ACCIONISTAS DE NEGOCIOS Y REPRESENTACIONES S.A.S.<\/h2>\n\n\n\n<table>\n  <thead>\n    <tr>\n      <th>NOMBRE SOCIOS<\/th>\n      <th>No. DE ACCIONES<\/th>\n      <th>%<\/th>\n      <th>VALOR $<\/th>\n      <th>NACIONALIDAD<\/th>\n    <\/tr>\n  <\/thead>\n  <tbody>\n    <tr>\n      <td>ALFONSO MORENO ECHAVARRIA<\/td>\n      <td>510.620<\/td>\n      <td>10,4543%<\/td>\n      <td>510.620.000<\/td>\n      <td>COLOMBIANA<\/td>\n    <\/tr>\n    <tr>\n      <td>MIGUEL OCTAVIO MORENO ECHAVARRIA<\/td>\n      <td>4.373.670<\/td>\n      <td>89,5457%<\/td>\n      <td>4.373.670.000<\/td>\n      <td>COLOMBIANA<\/td>\n    <\/tr>\n    <tr class=\"total-row\">\n      <td>TOTALES<\/td>\n      <td>4.884.290<\/td>\n      <td>100,00%<\/td>\n      <td>4.884.290.000<\/td>\n      <td><\/td>\n    <\/tr>\n  <\/tbody>\n<\/table>\n\n<style>\n  table {\n      max-width: 900px;\n      width: 100%;\n      border-collapse: collapse;\n      margin: 20px auto;\n      font-size: 14px;\n  }\n\n  th, td {\n      border: 1px solid #000;\n      padding: 8px 10px;\n  }\n\n  thead th {\n      background-color: #C78514;\n      color: white;\n      text-align: center;\n  }\n\n  tbody td:first-child {\n      text-align: left;\n      font-weight: bold;\n  }\n\n  tbody td:not(:first-child) {\n      text-align: center;\n  }\n\n  .total-row td {\n      font-weight: bold;\n      background-color: #f0f0f0;\n  }\n<\/style>\n\n\n\n\n<figure class=\"wp-block-image aligncenter size-full is-resized\"><img fetchpriority=\"high\" decoding=\"async\" width=\"778\" height=\"573\" src=\"https:\/\/sunvalleyinv.com\/wp-content\/uploads\/image-9.webp\" alt=\"\" class=\"wp-image-1295\" style=\"width:555px;height:auto\" srcset=\"https:\/\/sunvalleyinv.com\/wp-content\/uploads\/image-9.webp 778w, https:\/\/sunvalleyinv.com\/wp-content\/uploads\/image-9-300x221.webp 300w, https:\/\/sunvalleyinv.com\/wp-content\/uploads\/image-9-150x110.webp 150w, https:\/\/sunvalleyinv.com\/wp-content\/uploads\/image-9-768x566.webp 768w, https:\/\/sunvalleyinv.com\/wp-content\/uploads\/image-9-16x12.webp 16w\" sizes=\"(max-width: 778px) 100vw, 778px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>SUN VALLEY\u2019S ENHANCED TAKEOVER BID<\/strong><\/h2>\n\n\n\n<p><em>Sun Valley Investments AG<\/em>&nbsp;announced last Tuesday that it has improved the terms of its public offer to purchase ordinary shares of&nbsp;<em>Mineros S.A.<\/em>&nbsp;through a Public Tender Offer via the&nbsp;<strong>Colombian Stock Exchange<\/strong>. This offer was initially announced in its press release on&nbsp;<strong>February 14, 2025<\/strong>&nbsp;(the&nbsp;<strong>Initial Offer<\/strong>).<\/p>\n\n\n\n<p>Under the&nbsp;<strong>Enhanced Offer<\/strong>,&nbsp;<em>Sun Valley<\/em>&nbsp;will offer a price of&nbsp;<strong>5,500 Colombian pesos (\u201cCOP\u201d)<\/strong>&nbsp;per ordinary share, which is approximately&nbsp;<strong>CAD $1.92<\/strong>&nbsp;as of the date of this press release. This represents an&nbsp;<strong>increase of 900 COP per ordinary share<\/strong>, equivalent to approximately&nbsp;<strong>CAD $0.34 per share<\/strong>&nbsp;as of the date of this press release, compared to the price offered in the&nbsp;<strong>Initial Offer<\/strong>.<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-full\"><img decoding=\"async\" width=\"542\" height=\"506\" src=\"https:\/\/sunvalleyinv.com\/wp-content\/uploads\/image-10.webp\" alt=\"\" class=\"wp-image-1296\" srcset=\"https:\/\/sunvalleyinv.com\/wp-content\/uploads\/image-10.webp 542w, https:\/\/sunvalleyinv.com\/wp-content\/uploads\/image-10-300x280.webp 300w, https:\/\/sunvalleyinv.com\/wp-content\/uploads\/image-10-150x140.webp 150w, https:\/\/sunvalleyinv.com\/wp-content\/uploads\/image-10-13x12.webp 13w\" sizes=\"(max-width: 542px) 100vw, 542px\" \/><\/figure>\n\n\n\n<p>Additionally,&nbsp;<em>Sun Valley<\/em>&nbsp;may acquire a&nbsp;<strong>minimum of one ordinary share<\/strong>&nbsp;and a&nbsp;<strong>maximum of 77,931,725 ordinary shares<\/strong>&nbsp;under the&nbsp;<strong>Enhanced Offer<\/strong>, representing approximately&nbsp;<strong>26% of the issued and outstanding ordinary shares<\/strong>&nbsp;as of&nbsp;<strong>December 10, 2024<\/strong>. This also marks a&nbsp;<strong>17% increase<\/strong>&nbsp;in the maximum number of issued and outstanding ordinary shares that&nbsp;<em>Sun Valley<\/em>&nbsp;can acquire under the&nbsp;<strong>Enhanced Offer<\/strong>, compared to the&nbsp;<strong>Initial Offer<\/strong>.<\/p>\n\n\n\n<p>The total aggregate consideration that&nbsp;<em>Sun Valley<\/em>&nbsp;will pay for the&nbsp;<strong>Ordinary Shares<\/strong>&nbsp;under the&nbsp;<strong>Enhanced Offer<\/strong>&nbsp;will range from a&nbsp;<strong>minimum of COP 5,500<\/strong>, equivalent to approximately&nbsp;<strong>CAD $1.92<\/strong>&nbsp;as of the date of this press release, to a&nbsp;<strong>maximum of COP 428,624,487,500<\/strong>, equivalent to approximately&nbsp;<strong>CAD $149,628,912<\/strong>&nbsp;as of the date of this press release.<\/p>\n\n\n\n<p>Immediately before the&nbsp;<strong>Enhanced Offer<\/strong>,&nbsp;<em>Sun Valley<\/em>&nbsp;<strong>owned and controlled 92,477,823 Ordinary Shares<\/strong>, representing&nbsp;<strong>30.85% of the issued and outstanding Ordinary Shares<\/strong>. If the&nbsp;<strong>Enhanced Offer<\/strong>&nbsp;is successful,&nbsp;<em>Sun Valley<\/em>&nbsp;expects to acquire&nbsp;<strong>ownership and control of a minimum of one ordinary share and a maximum of 77,931,725 ordinary shares<\/strong>, unless the&nbsp;<strong>Enhanced Offer<\/strong>&nbsp;is modified in accordance with the terms outlined in the&nbsp;<strong>Offer Booklet<\/strong>.<\/p>\n\n\n\n<p>As a result, and in the event that the&nbsp;<strong>Enhanced Offer<\/strong>&nbsp;is successful,&nbsp;<em>Sun Valley<\/em>&nbsp;expects to&nbsp;<strong>own and control<\/strong>&nbsp;a&nbsp;<strong>minimum of 92,477,824 Ordinary Shares<\/strong>&nbsp;and a&nbsp;<strong>maximum of 170,409,548 Ordinary Shares<\/strong>&nbsp;after the&nbsp;<strong>Enhanced Offer<\/strong>, representing approximately&nbsp;<strong>30.85% and 56.85%<\/strong>, respectively, of the&nbsp;<strong>issued and outstanding Ordinary Shares<\/strong>&nbsp;as of&nbsp;<strong>December 10, 2024<\/strong>.<\/p>\n\n\n\n<p>As of the date of this press release,&nbsp;<em>Sun Valley\u2019s<\/em>&nbsp;stake in&nbsp;<strong>Ordinary Shares<\/strong>&nbsp;had a&nbsp;<strong>market value of COP $512 billion<\/strong>, equivalent to approximately&nbsp;<strong>CAD $181 million<\/strong>, based on the&nbsp;<strong>closing price<\/strong>&nbsp;of the&nbsp;<strong>Ordinary Shares<\/strong>&nbsp;on the&nbsp;<strong>Colombian Stock Exchange (bvc)<\/strong>&nbsp;on&nbsp;<strong>March 3, 2025<\/strong>, the last trading day before this press release.<\/p>\n\n\n\n<p>If&nbsp;<em>Sun Valley<\/em>&nbsp;acquires the&nbsp;<strong>maximum number of Ordinary Shares<\/strong>&nbsp;it offers to purchase under the&nbsp;<strong>Enhanced Offer<\/strong>, the&nbsp;<strong>market value<\/strong>&nbsp;of its stake in&nbsp;<strong>Ordinary Shares<\/strong>&nbsp;would be approximately&nbsp;<strong>COP $944 billion<\/strong>, equivalent to approximately&nbsp;<strong>CAD $334 million<\/strong>, based on the&nbsp;<strong>Closing Price<\/strong>.<\/p>\n\n\n\n<p>Read the original article in Spanish on&nbsp;<a href=\"https:\/\/www.halconesypalomas.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Halcones y Palomas<\/a>:<\/p>\n\n\n\n<p>Original article by&nbsp;<a href=\"https:\/\/www.halconesypalomas.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">Halcones y Palomas<\/a>&nbsp;published on March 5, 2025.<\/p>","protected":false},"excerpt":{"rendered":"<p>\u201cHalcones y Palomas\u201d has recently highlighted us in an article. Translation by Sun Valley Investments. Medell\u00edn&nbsp;\u2013 The firm&nbsp;Negocios y Representaciones&nbsp;requested that the Colombian Stock Exchange release the bank guarantee it had provided for the purposes of the Competing Public Tender Offer for the ordinary shares of&nbsp;Mineros S.A.(TSX: MSA) (CB: Mineros). This means that the company [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1297,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,21],"tags":[],"class_list":["post-1294","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sun_valley","category-mineros-s-a"],"_links":{"self":[{"href":"https:\/\/sunvalleyinv.com\/es\/wp-json\/wp\/v2\/posts\/1294","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sunvalleyinv.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sunvalleyinv.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sunvalleyinv.com\/es\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/sunvalleyinv.com\/es\/wp-json\/wp\/v2\/comments?post=1294"}],"version-history":[{"count":1,"href":"https:\/\/sunvalleyinv.com\/es\/wp-json\/wp\/v2\/posts\/1294\/revisions"}],"predecessor-version":[{"id":1298,"href":"https:\/\/sunvalleyinv.com\/es\/wp-json\/wp\/v2\/posts\/1294\/revisions\/1298"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sunvalleyinv.com\/es\/wp-json\/wp\/v2\/media\/1297"}],"wp:attachment":[{"href":"https:\/\/sunvalleyinv.com\/es\/wp-json\/wp\/v2\/media?parent=1294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sunvalleyinv.com\/es\/wp-json\/wp\/v2\/categories?post=1294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sunvalleyinv.com\/es\/wp-json\/wp\/v2\/tags?post=1294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}