Argos gets green light for spin-off, Colombia

Grupo Argos (formerly Inversiones Argos) and Cementos Argos received today the approval of the Colombian Financial Superintendence to spin-off certain non-cement assets, currently under Cementos Argos balance sheet, to be contributed into Grupo Argos.

In exchange for these assets, Grupo Argos will issue preferred non-voting shares to Cementos Argos’ shareholders at 0.31 preferred shares of Grupo Argos per each share of Cementos Argos.