Valorem leads a corporate group that grows in a sustainable way through transforming or escalating service companies with disruptive business models, leveraging in its talent and in its corporate prestige.
In the following years, Valorem underwent a process of portfolio optimization and corporate reorganization by divesting from investments that were less profitable or outside its primary investment focus. This was done to create value for its shareholders, with an organizational and corporate governance framework designed to fulfill the role of an Investment Holding Company.
”In 2004, Valores Bavaria changed its name and established the brand and image of Valorem.
Valorem retained companies such as Caracol Televisión and Comunican (El Espectador) in its portfolio, which had a proven track record in the media and entertainment sector. Similarly, it kept other companies such as Reforestadora de la Costa (Refocosta), in the reforestation sector, and Gases del Caribe in the natural gas distribution services sector.
New investments and consolidation of the business portfolio
Valorem pursued its goal of creating value for its shareholders by making new acquisitions to strengthen its portfolio. One of its notable acquisitions was
- Cine Colombia in 2008, a leading company involved in the trading, distribution, exhibition, and production of cinematic films.
- In 2011, Valorem began investing in D1 (formerly Koba Colombia), a pioneer in the hard discount retail model of essential household products. Valorem eventually acquired control in 2015, owning almost 60% of the company.
- Finally, in 2015, Valorem established San Francisco Investments to develop a hotel project in Cartagena.
Delisting of the Colombian Stock Exchange
In 2018, Invernac & Cía. S.A.S. initiated a takeover bid to cancel the registration of Valorem’s shares on the Colombian Stock Exchange and the National Registry of Securities and Issuers.
On June 25, 2018, the Colombian Financial Superintendence cancelled Valorem’s shares registration in both the NRSI and the Colombian Stock Exchange. Valorem then notified the Superintendence of Companies of its compliance with Article 220.127.116.11.1.1. of the Decree 1074 of 2015, subjecting the company to surveillance by the Superintendence.
On July 16, 2019, Valorem S.A. became a simplified stock company as per Article 31 of the Law 1258 of 2008, after receiving approval from the General Shareholders Meeting in an extraordinary session held on March 28, 2019.
Board of Directors
He is a Business Administrator of the Universidad de los Andes in Bogotá, and pursued an MBA in the Instituto de la Empresa, in Madrid.
He is a chemical engineer from the Universidad de Antioquia and Master Brewer of the Siebel Institute of Technology in Chicago.
He is a graduate of EAFIT and holds a master’s degree in Latin American economic Development from the University of London and an MBA from the Universidad de Los Andes.
He studied Economic Sciences at the Universidad Autónoma de Madrid, and Finance and International Business at New York University.
He is an industrial engineer from the Universidad Javeriana and completed studies on strategy and management development at IMD Switzerland, and an MBA at NYU Stern School of Business, London School of Economics and HEC Paris.
He is a civil engineer from the Univerdad de Los Andes and holds a postgraduate degree in Finance of the same university.
He is currently a member of the Boards of Directors of Refocosta S.A.S., Ditransa S.A. and Gases del Caribe S.A.
He is a lawyer of the Universidad Santo Tomás. He has a postgraduate degree in Corporate Law of the Universidad de los Andes.
He is currently a member of the Boards of Directors of D1 S.A.S., Refocosta S.A.S and Ditransa S.A.
He is a graduate of the Colegio de Estudios Superiores de Administración, CESA. He has a postgraduate degree in Corporate Finance of the same university.
Valorem’s portfolio share (%)
*Refers to direct and indirect participation
Main financial indicators
Valorem Group figures as of December 31, 2022.
Figures in millions of dollars.
According to the separate or individual financial statements of each company.