The Firm represented Merrill Lynch, Pierce, Fenner and Smith, and JPMorgan Chase Bank, N.A., as lead arrangers in connection with a $540 million credit facility for Gruposura Finance, an affiliate of Grupo de Inversiones Suramericana S.A. (GRUPOSURA). The credit facility was entered into in connection with the acquisition by GRUPOSURA of shares of SURA Asset Management from General Atlantic Cooperatief U.A.
GRUPOSURA is the principal shareholder of a group of leading companies that operate primarily in Colombia. The group’s companies include: Bancolombia S.A., the largest bank in Colombia; Suramericana S.A., the holding company for the largest life and property and casualty insurance companies in Colombia; Grupo Nutresa S.A., the largest processed food conglomerate in Colombia; Grupo Argos S.A., the majority owner of Cementos Argos, S.A., Colombia’s largest cement producer; and SURA Asset Management, a Latin American company with operations in the areas of pensions, savings and investment in Mexico, Peru, Chile, Uruguay and Colombia.
The Simpson Thacher team for the credit facility included Alan Brenner, Luis Pellerano and Caroline Gross (Banking and Credit); Juan Francisco Méndez and Tomas Holguin Mora (Capital Markets); Michael Badain (Tax); and Jennifer Pepin (Executive Compensation and Employee Benefits).