November 19, 2009
Colombian holding company Inverargos says it has sold a 7.3% stake, or 83.8
Colombian holding company Inverargos says it has sold a 7.3% stake, or 83.8m shares, in Cementos Argos via the local stock exchange for COP842bn ($430.5m). Bogota-based equity research shop Bolsa y Renta says the company sold each share at COP10,040 and that sale reduces the seller’s stake in the cement company to 63.0% from 70.3%. In October the company had announced its intentions of selling 5.0%-10.0% in Argos to pay down debt. Argos shares closed Wednesday at COP10,240.