Colombia’s Grupo Aval cuts 2023 loan forecast after ‘exorbitant costs’
By Sarah Morland and Marion Giraldo (Reuters) – Colombian financial conglomerate Grupo Aval on Thursday cut its 2023 loan growth forecast and hiked its cost of risk estimate, a day after it…
Colombian conglomerate Grupo Aval, subsidiary settle charges of violating US law
By Kanishka Singh WASHINGTON (Reuters) – Colombian conglomerate Grupo Aval and its bank subsidiary will pay over $80 million to settle charges of violating anti-corruption laws, U.S. authorities said on Thursday. The…
Mexico says trade deal does not apply in Grupo Mexico mine labor dispute
By Daina Beth Solomon MEXICO CITY (Reuters) -A labor dispute at Grupo Mexico’s San Martin mine in Mexico’s Zacatecas state, where the U.S. raised concerns over alleged worker rights abuses, does not…
Colombia’s Grupo Argos to ‘seriously’ consider finding a strategic partner
BOGOTA (Reuters) – Grupo Argos, Colombia’s largest industrial conglomerate, on Tuesday said it will focus “seriously” on finding a strategic partner once it concludes an exchange of shares in the country’s largest…
Colombia regulator suspends trading in shares of Grupo SURA, Grupo Argos and Grupo Nutresa
BOGOTA (Reuters) – Colombia’s financial regulator on Thursday suspended trading in shares of Grupo SURA, Grupo Argos and Grupo Nutresa, after top shareholders in the companies announced negotiations to make changes to…
Colombia’s Gilinski signs MoU to exit stake in Grupo Sura
BOGOTA (Reuters) – Colombia’s Gilinski Group signed a Memorandum of Understanding (MoU) to exit its stake in the country’s largest investment firm, Grupo Sura and take a controlling stake in food producer…
Mexico takes over part of Grupo Mexico railway, shares fall
By Valentine Hilaire and Noe Torres MEXICO CITY (Reuters) – The Mexican Navy on Friday took over a section of railway in southern Mexico operated by a unit of Grupo Mexico ,…
Colombia’s Grupo SURA nearly doubles profits in first quarter
(Reuters) – Net profit at Grupo SURA, Colombia’s largest investment company, almost doubled in the first quarter compared to the year-ago period, the company said in a filing on Monday, pointing in…
Brazil’s Americanas looking for buyer for stake in Grupo Uni.co
SAO PAULO (Reuters) – Brazilian retailer Americanas SA, which filed for bankruptcy earlier this year after an accounting scandal, said on Monday it has started the market sounding process to prospect parties…
Colombia’s Grupo SURA posts 82% jump in Q4 net profit
BOGOTA (Reuters) – Net profit at Grupo SURA, Colombia’s largest investment company, rose by 81.9% in the fourth quarter of 2022 compared to the year earlier period, the firm said in a…
Colombia’s Grupo Argos seeks to buy back $81.2 million in shares
BOGOTA (Reuters) – Colombia’s largest industrial conglomerate, Grupo Argos, said on Wednesday it will carry out a share buy-back plan worth some 400 billion pesos ($81.2 million) in March and ask shareholders…
Colombia’s Grupo Aval posts 23.2% decrease in Q3 net profit
(Reuters) -Colombian financial conglomerate Grupo Aval reported third quarter net profit down 23.2% from a year earlier on Wednesday, landing at 929.8 billion pesos ($193.4 million), citing a higher effective tax rate…
Colombia’s Grupo Argos Q3 net profit drops 9.2% after jump in costs
MEXICO CITY (Reuters) – Colombian industrial conglomerate Grupo Argos’ third-quarter net profit fell 9.2% from a year earlier, the company said Monday, following a jump in costs and expenses. The company, made…
Colombia’s Grupo SURA posts near-stable Q3 profit as revenues, costs grow
(Reuters) – Net profit at Grupo SURA, Colombia’s largest investment company, stayed relatively stable in the third quarter compared to the year-ago period as both revenues and costs grew, the company said…
Colombia’s Grupo Argos posts 8% rise in Q2 net profit
(Reuters) -Colombian industrial conglomerate Grupo Argos’ second-quarter net profit rose 8% from the same period a year before, the company said on Friday, boosted by revenue increases at its cement and energy…
Gilinski launches offer for up to 32.5% of Grupo Argos shares
BOGOTA – Colombian business magnate Jaime Gilinski has launched a public acquisition offer for shares in industrial conglomerate Grupo Argos, the third company which has recently found itself in Gilinski’s sights, the…
Mexico’s Grupo Salinas vows to fight order to pay 2.447 billion pesos in tax dispute
MEXICO CITY – Mexico’s Grupo Salinas, the parent company of broadcaster TV Azteca, said on Tuesday it will keep fighting in a legal dispute that has resulted in an order to pay…
Grupo Argos will not participate in public offer for SURA, Nutresa share
BOGOTA – Colombian industrial conglomerate Grupo Argos said on Thursday it will not participate in a third public acquisition offer for shares in investment holding company Grupo SURA and food producer Nutresa…
Grupo Aeroportuario del Pacifico says has refinanced its debt for $191 million
– Mexican airport operator Grupo Aeroportuario del Pacifico said on Friday it has refinanced its debt for $191 million, due in January and February 2024. The company said that with this refinancing, it extended…
Mexico’s Grupo Aeromexico shares slump after public tender offer closes
MEXICO CITY, Mar 15 – Mexico’s Grupo Aeromexico shares plunged for a fourth day in a row on Tuesday after nearly a fifth of the company’s capital was sold at 1 cent…
Mexico’s Grupo Bimbo suspends operations in Ukraine plant, citing safety concerns
MEXICO CITY – Mexican breadmaker Grupo Bimbo said on Sunday it has temporarily suspended operations in its Dnipro plant to ensure the safety of its 150 workers, all of whom are Ukrainians,…
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