{"id":9079,"date":"2023-06-21T14:29:06","date_gmt":"2023-06-21T19:29:06","guid":{"rendered":"https:\/\/valorem.com.co\/valorems-origin\/"},"modified":"2025-05-28T10:09:52","modified_gmt":"2025-05-28T15:09:52","slug":"valorems-origin","status":"publish","type":"page","link":"https:\/\/valorem.com.co\/en\/valorems-origin\/","title":{"rendered":"Valorem\u2019s origin"},"content":{"rendered":"[vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” top_padding=”60″ text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none” shape_type=””][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_custom_heading source=”post_title” font_container=”tag:h1|text_align:center” use_theme_fonts=”yes”][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none” shape_type=””][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/6″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][\/vc_column][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” centered_text=”true” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”2\/3″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text]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.[\/vc_column_text][\/vc_column][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/6″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][\/vc_column][\/vc_row][vc_row type=”full_width_background” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” bg_color=”#091928″ scene_position=”center” top_padding=”90″ constrain_group_1=”yes” bottom_padding=”90″ left_padding_desktop=”60″ constrain_group_2=”yes” right_padding_desktop=”60″ top_padding_phone=”30″ left_padding_phone=”0″ constrain_group_6=”yes” right_padding_phone=”0″ text_color=”light” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” id=”history” overlay_strength=”0.3″ gradient_direction=”left_to_right” enable_shape_divider=”true” shape_divider_position=”top” shape_divider_height=”80″ shape_divider_height_phone=”80″ bg_image_animation=”none” shape_type=”speech”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_custom_heading text=”History” font_container=”tag:h2|text_align:center|color:%23c99700|line_height:2″ use_theme_fonts=”yes”][tabbed_section style=”vertical_scrolling” tab_color=”Accent-Color” vs_navigation_width=”regular” vs_navigation_spacing=”20px” vs_navigation_mobile_display=”visible” vs_tab_spacing=”10%” vs_tab_tag=”h5″][tab icon_family=”none” title=”1997″ id=”1689006852-1-26″ tab_id=”33fb9775-d8a8-9″][vc_row_inner column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” text_align=”left”][vc_column_inner column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” bg_image_animation=”none” enable_animation=”true” animation=”fade-in-from-bottom” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_custom_heading text=”Valorem\u2019s origin” font_container=”tag:h3|text_align:left” use_theme_fonts=”yes”][nectar_highlighted_text color_type=”gradient” highlight_color=”rgba(201,151,0,0.7)” secondary_color=”rgba(201,151,0,0.01)” style=”half_text”]Valorem was established in 1997 as a scission of Bavaria, that separated its industrial activities in the beer and beverage sector from its investment and management activities involving securities and real estate. This led to the creation of Valores Bavaria, companies which inherited a portfolio of 129<\/em> from various sectors of the economy. In 2004, Valores Bavaria changed its corporate name to Valorem.[\/nectar_highlighted_text][image_with_animation image_url=”8890″ animation=”None” hover_animation=”none” alignment=”” border_radius=”none” box_shadow=”none” image_loading=”default” max_width=”100%” max_width_mobile=”default”][\/vc_column_inner][\/vc_row_inner][\/tab][tab icon_family=”none” title=”2004″ id=”1689006852-2-62″ tab_id=”76af7ed9-1bc4-0″][vc_row_inner column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” text_align=”left”][vc_column_inner column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” bg_image_animation=”none” enable_animation=”true” animation=”fade-in-from-bottom” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_custom_heading text=”Corporate reorganization” font_container=”tag:h3|text_align:left” use_theme_fonts=”yes”][vc_column_text]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.[\/vc_column_text][nectar_single_testimonial testimonial_style=”bold” color=”Default” quote=”In 2004, Valores Bavaria changed its name and established the brand and image of Valorem.”][vc_column_text]Valorem retained companies such as Caracol Televisi\u00f3n and Comunican (El Espectador) <\/em>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)<\/em>, in the reforestation sector, and Gases del Caribe in the natural gas distribution services sector.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner column_margin=”none” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” text_align=”left”][vc_column_inner column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” bg_image_animation=”none” enable_animation=”true” animation=”reveal-from-right” border_type=”simple” column_border_width=”none” column_border_style=”solid”][carousel script=”flickity” flickity_formatting=”default” desktop_cols_flickity=”2″ desktop_small_cols_flickity=”2″ tablet_cols_flickity=”1″ flickity_controls=”touch_total” flickity_touch_total_icon_color=”default” color=”accent-color” flickity_overflow=”hidden” flickity_wrap_around=”wrap” flickity_spacing=”default” column_padding=”0″ flickity_element_spacing=”default” border_radius=”none” autorotate=”true”][item simple_slider_bg_image_position=”default” simple_slider_overlay_strength=”0.3″ id=”1689621388-1-12″][image_with_animation image_url=”6249″ animation=”None” hover_animation=”none” alignment=”” border_radius=”none” box_shadow=”none” image_loading=”default” max_width=”100%” max_width_mobile=”default”][\/item][item simple_slider_bg_image_position=”default” simple_slider_overlay_strength=”0.3″ id=”1689621388-2-66″][image_with_animation image_url=”6251″ animation=”None” hover_animation=”none” alignment=”” border_radius=”none” box_shadow=”none” image_loading=”default” max_width=”100%” max_width_mobile=”default”][\/item][item simple_slider_bg_image_position=”default” simple_slider_overlay_strength=”0.3″ id=”1689621388-2-66″][image_with_animation image_url=”9041″ animation=”None” hover_animation=”none” alignment=”” border_radius=”none” box_shadow=”none” image_loading=”default” max_width=”100%” max_width_mobile=”default”][\/item][item simple_slider_bg_image_position=”default” simple_slider_overlay_strength=”0.3″ id=”1689621388-2-66″][image_with_animation image_url=”6264″ animation=”None” hover_animation=”none” alignment=”” border_radius=”none” box_shadow=”none” image_loading=”default” max_width=”100%” max_width_mobile=”default”][\/item][\/carousel][\/vc_column_inner][\/vc_row_inner][\/tab][tab icon_family=”none” title=”2008″ id=”1689006852-2-62″ tab_id=”76af7ed9-1bc4-0″][vc_row_inner column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” text_align=”left”][vc_column_inner column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” bg_image_animation=”none” enable_animation=”true” animation=”fade-in-from-bottom” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_custom_heading text=”New investments and consolidation of the business portfolio” font_container=”tag:h3|text_align:left” use_theme_fonts=”yes”][vc_column_text]Valorem pursued its goal of creating value for its shareholders by making new acquisitions to strengthen its portfolio. One of its notable acquisitions was[\/vc_column_text]
\n
    \n
  • Cine Colombia in 2008, a leading company involved in the trading, distribution, exhibition, and production of cinematic films.<\/li>\n
  • In 2011, Valorem began investing in D1 (formerly Koba Colombia)<\/em>, a pioneer in the hard discount<\/em> retail model of essential household products. Valorem eventually acquired control in 2015, owning almost 60% of the company.<\/li>\n
  • Finally, in 2015, Valorem established San Francisco Investments to develop a hotel project in Cartagena.<\/li>\n<\/ul>\n <\/div>[\/vc_column_inner][\/vc_row_inner][vc_row_inner column_margin=”none” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” text_align=”left”][vc_column_inner column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” bg_image_animation=”none” enable_animation=”true” animation=”reveal-from-right” border_type=”simple” column_border_width=”none” column_border_style=”solid”][carousel script=”flickity” flickity_formatting=”default” desktop_cols_flickity=”2″ desktop_small_cols_flickity=”2″ tablet_cols_flickity=”1″ flickity_controls=”touch_total” flickity_touch_total_icon_color=”default” color=”accent-color” flickity_overflow=”hidden” flickity_wrap_around=”wrap” flickity_spacing=”default” column_padding=”0″ flickity_element_spacing=”default” border_radius=”none” autorotate=”true”][item simple_slider_bg_image_position=”default” simple_slider_overlay_strength=”0.3″ id=”1689621388-1-12″][image_with_animation image_url=”6253″ animation=”None” hover_animation=”none” alignment=”” border_radius=”none” box_shadow=”none” image_loading=”default” max_width=”100%” max_width_mobile=”default”][\/item][item simple_slider_bg_image_position=”default” simple_slider_overlay_strength=”0.3″ id=”1689621388-2-66″][image_with_animation image_url=”6255″ animation=”None” hover_animation=”none” alignment=”” border_radius=”none” box_shadow=”none” image_loading=”default” max_width=”100%” max_width_mobile=”default”][\/item][item simple_slider_bg_image_position=”default” simple_slider_overlay_strength=”0.3″ id=”1689621388-2-66″][image_with_animation image_url=”6262″ animation=”None” hover_animation=”none” alignment=”” border_radius=”none” box_shadow=”none” image_loading=”default” max_width=”100%” max_width_mobile=”default”][\/item][\/carousel][\/vc_column_inner][\/vc_row_inner][\/tab][tab icon_family=”none” title=”2012″ id=”1689006852-2-62″ tab_id=”76af7ed9-1bc4-0″][vc_row_inner column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” text_align=”left”][vc_column_inner column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” bg_image_animation=”none” enable_animation=”true” animation=”fade-in-from-bottom” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_custom_heading text=”Asset Consolidation” font_container=”tag:h3|text_align:left” use_theme_fonts=”yes”][nectar_highlighted_text color_type=”gradient” highlight_color=”rgba(201,151,0,0.7)” secondary_color=”rgba(201,151,0,0.01)” style=”half_text”]In 2012, Valorem underwent a patrimonial reorganization with the aim of strengthening the company both financially and strategically. During this process, Valorem acquired ownership stakes in well-known companies, resulting in direct participations ranging from 90% to 100%<\/em>.[\/nectar_highlighted_text][nectar_highlighted_text color_type=”gradient” highlight_color=”rgba(201,151,0,0.7)” secondary_color=”rgba(201,151,0,0.01)” style=”half_text”]The consolidation of these new investments allowed Valorem to increase its dividend earnings, which in turn improved its ability to invest and take on debt. Additionally, this reorganization simplified the Business Group by eliminating certain investment vehicles. The process involved a Multiple Absorption Mergers and Multiple Scissions in favor of an existing entity,resulting in a patrimonial increase of $314,393 million<\/em> for Valorem.[\/nectar_highlighted_text][\/vc_column_inner][\/vc_row_inner][\/tab][tab icon_family=”none” title=”2019″ id=”1689006852-2-62″ tab_id=”76af7ed9-1bc4-0″][vc_row_inner column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” text_align=”left”][vc_column_inner column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” bg_image_animation=”none” enable_animation=”true” animation=”fade-in-from-bottom” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_custom_heading text=”Delisting of the Colombian Stock Exchange” font_container=”tag:h3|text_align:left” use_theme_fonts=”yes”][vc_column_text]In 2018, Invernac & C\u00eda.<\/em> 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.<\/p>\n

    On June 25, 2018, the Colombian Financial Superintendence cancelled Valorem’s shares registration in both the NRSI<\/em> and the Colombian Stock Exchange. Valorem then notified the Superintendence of Companies of its compliance with Article 2.2.2.1.1.1. of the Decree 1074 of 2015, subjecting the company to surveillance by the Superintendence.<\/p>\n

    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.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/tab][\/tabbed_section][\/vc_column][\/vc_row][vc_row type=”full_width_background” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” bg_color=”#e7e6e6″ scene_position=”center” top_padding=”90″ constrain_group_1=”yes” bottom_padding=”90″ left_padding_desktop=”60″ constrain_group_2=”yes” right_padding_desktop=”60″ top_padding_phone=”30″ left_padding_phone=”0″ constrain_group_6=”yes” right_padding_phone=”0″ text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” disable_element=”yes” overlay_strength=”0.3″ gradient_direction=”left_to_right” enable_shape_divider=”true” shape_divider_position=”top” shape_divider_height=”80″ shape_divider_height_phone=”80″ bg_image_animation=”none” shape_type=”speech”][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][tabbed_section style=”vertical_scrolling” tab_color=”Accent-Color” vs_navigation_width=”regular” vs_navigation_spacing=”20px” vs_navigation_mobile_display=”visible” vs_tab_spacing=”10%” vs_tab_tag=”h5″][tab icon_family=”none” title=”2019″ id=”1689006852-2-62″ tab_id=”76af7ed9-1bc4-0″][vc_row_inner column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” text_align=”left”][vc_column_inner column_padding=”padding-5-percent” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color=”#ffffff” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”small_depth” column_border_radius=”3px” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_custom_heading text=”Delisting of the Colombian Stock Exchange” font_container=”tag:h3|text_align:left” use_theme_fonts=”yes”][vc_column_text]In 2018, Invernac & C\u00eda.<\/em> 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.<\/p>\n

    On June 25, 2018, the Colombian Financial Superintendence cancelled Valorem’s shares registration in both the NRSI<\/em> and the Colombian Stock Exchange. Valorem then notified the Superintendence of Companies of its compliance with Article 2.2.2.1.1.1. of the Decree 1074 of 2015, subjecting the company to surveillance by the Superintendence.<\/p>\n

    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.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/tab][tab icon_family=”none” title=”2012″ id=”1689006852-2-62″ tab_id=”76af7ed9-1bc4-0″][vc_row_inner column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” text_align=”left”][vc_column_inner column_padding=”padding-5-percent” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color=”#ffffff” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”small_depth” column_border_radius=”3px” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_custom_heading text=”Asset Consolidation” font_container=”tag:h3|text_align:left” use_theme_fonts=”yes”][vc_column_text]In 2012, Valorem underwent a patrimonial reorganization with the aim of strengthening the company both financially and strategically. During this process, Valorem acquired ownership stakes in well-known companies, resulting in direct participations ranging from 90% to 100%.<\/p>\n

    The consolidation of these new investments allowed Valorem to increase its dividend earnings, which in turn improved its ability to invest and take on debt. Additionally, this reorganization simplified the Business Group by eliminating certain investment vehicles. The process involved a Multiple Absorption Mergers and Multiple Scissions in favor of an existing entity, resulting in a patrimonial increase of $314,393 million for Valorem.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/tab][tab icon_family=”none” title=”2008″ id=”1689006852-2-62″ tab_id=”76af7ed9-1bc4-0″][vc_row_inner column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” text_align=”left”][vc_column_inner column_padding=”padding-5-percent” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color=”#ffffff” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”small_depth” column_border_radius=”3px” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_custom_heading text=”New investments and consolidation of the business portfolio” font_container=”tag:h3|text_align:left” use_theme_fonts=”yes”][vc_column_text]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)<\/em>, a pioneer in the hard discount retail model<\/em> 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.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/tab][tab icon_family=”none” title=”2004″ id=”1689006852-2-62″ tab_id=”76af7ed9-1bc4-0″][vc_row_inner column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” text_align=”left”][vc_column_inner column_padding=”padding-5-percent” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color=”#ffffff” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”small_depth” column_border_radius=”3px” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_custom_heading text=”Corporate reorganization” font_container=”tag:h3|text_align:left” use_theme_fonts=”yes”][vc_column_text]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.<\/p>\n

    In 2004, Valores Bavaria changed its name and established the brand and image of Valorem.<\/p>\n

    Valorem retained companies such as Caracol Televisi\u00f3n and Comunican (El Espectador) <\/em>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)<\/em>, in the reforestation sector, and Gases del Caribe in the natural gas distribution services sector.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/tab][tab icon_family=”none” title=”1997″ id=”1689006852-1-26″ tab_id=”33fb9775-d8a8-9″][vc_row_inner column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” text_align=”left”][vc_column_inner column_padding=”padding-5-percent” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color=”#ffffff” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”small_depth” column_border_radius=”3px” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_custom_heading text=”Valorem\u2019s origin” font_container=”tag:h3|text_align:left” use_theme_fonts=”yes”][vc_column_text]Valorem was established in 1997 as a scission of Bavaria, that separated its industrial activities in the beer and beverage sector from its investment and management activities involving securities and real estate. This led to the creation of Valores Bavaria, which inherited a portfolio of 129 companies from various sectors of the economy. In 2004, Valores Bavaria changed its corporate name to Valorem.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/tab][\/tabbed_section][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” top_padding=”60″ constrain_group_1=”yes” bottom_padding=”60″ left_padding_desktop=”60″ constrain_group_2=”yes” right_padding_desktop=”60″ top_padding_phone=”0″ constrain_group_5=”yes” bottom_padding_phone=”0″ left_padding_phone=”0″ constrain_group_6=”yes” right_padding_phone=”0″ text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none” shape_type=””][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” enable_animation=”true” animation=”grow-in” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_gallery type=”flickity_static_height_style” images=”8971,8973,8975″ flickity_spacing=”default” flickity_controls=”pagination” flickity_overflow=”hidden” flickity_wrap_around=”wrap” flickity_autoplay=”true” flickity_box_shadow=”none” image_loading=”default” onclick=”link_image” flickity_autoplay_dur=”6000″][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” top_padding=”60″ left_padding_desktop=”60″ constrain_group_2=”yes” right_padding_desktop=”60″ left_padding_phone=”0″ constrain_group_6=”yes” right_padding_phone=”0″ text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” id=”governing” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none” shape_type=””][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_custom_heading text=”Governance bodies” font_container=”tag:h2|text_align:center” use_theme_fonts=”yes”][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” top_padding=”30″ left_padding_desktop=”60″ constrain_group_2=”yes” right_padding_desktop=”60″ left_padding_phone=”0″ constrain_group_6=”yes” right_padding_phone=”0″ text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none” shape_type=””][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_text_separator title=”Board of Directors”][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”30px” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” left_padding_desktop=”60″ constrain_group_2=”yes” right_padding_desktop=”60″ left_padding_phone=”0″ constrain_group_6=”yes” right_padding_phone=”0″ text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none” shape_type=””][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/3″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid” offset=”vc_hidden-xs”][\/vc_column][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” centered_text=”true” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/3″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” enable_animation=”true” animation=”fade-in-from-bottom” border_type=”simple” column_border_width=”none” column_border_style=”solid”][team_member image_url=”8489″ bio_alt_image_url=”8489″ team_memeber_style=”bio_fullscreen_alt” image_loading=”default” team_member_bio_full_html=”html” name=”Alejandro Santo Domingo D\u00e1vila” job_position=”President of the Board of Directors”]A Member of the Board of AB Inbev, Jacobs Douewe Egberts, Lifetime Fitness, Florida Crystals and Contour Global Plc. In addition, he is Chairman of the Board of Bavaria S.A. and Decameron and a member of the Board of Directors of Caracol Televisi\u00f3n S.A., Comunican S.A., Cine Colombia S.A.S. In the philanthropy sector, he is Chairman of the Board of the Julio Mario Santo Domingo Foundation and of the Wildlife Conservation Society (WCS), a member of the Patronage of the New York Metropolitan Museum; of DKMS, a foundation devoted to fighting blood cancer; of the Bare Feet Foundation and of the Global Advisory Council of Harvard University. He is a graduate of Harvard University.[\/team_member][\/vc_column][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/3″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid” offset=”vc_hidden-xs”][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”30px” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” left_padding_desktop=”60″ constrain_group_2=”yes” right_padding_desktop=”60″ left_padding_phone=”0″ constrain_group_6=”yes” right_padding_phone=”0″ text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none” shape_type=””][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” centered_text=”true” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/3″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” enable_animation=”true” animation=”fade-in-from-bottom” border_type=”simple” column_border_width=”none” column_border_style=”solid”][team_member image_url=”8491″ bio_alt_image_url=”8491″ team_memeber_style=”bio_fullscreen_alt” image_loading=”default” team_member_bio_full_html=”html” name=”Carlos Alejandro P\u00e9rez D\u00e1vila”]A member of the directories of Anheuser Busch Inbev SABMiller PLC, SABMiller Latin America, Bavaria S.A., Backus & Johnston S.A.A. in Per\u00fa, Cine Colombia S.A.S., Comunican S.A. and Inversiones Cromos S.A. He is Chairman of the Board of Caracol Televisi\u00f3n S.A. He also worked for Goldman Sachs & Co., S.G. Warburg & Co. and in Violy, Byorum & Partners. He is a graduate of Harvard Business School and Cambridge University.[\/team_member][\/vc_column][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” centered_text=”true” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/3″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” enable_animation=”true” animation=”fade-in-from-bottom” border_type=”simple” column_border_width=”none” column_border_style=”solid” delay=”150″][team_member image_url=”8493″ bio_alt_image_url=”8493″ team_memeber_style=”bio_fullscreen_alt” image_loading=”default” team_member_bio_full_html=”html” name=”Alberto Preciado Arbel\u00e1ez”]Partner of Alberto Preciado & Asociados; a member of the directories of Bavaria S.A., Caracol Televisi\u00f3n S.A., Cine Colombia S.A.S., Decameron S.A.S., and Invernac S.A.S. In addition, he is Chairman of the Board of the Caja de Compensaci\u00f3n Familiar Cafam, Foreign Trade Advisor for the French Embassy in Colombia and amiable compositeur registered in the Bogot\u00e1 Chamber of Commerce. He is a graduate of the Faculty of Jurisprudence of the Colegio Mayor de Nuestra Se\u00f1ora del Rosario.[\/team_member][\/vc_column][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” centered_text=”true” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/3″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” enable_animation=”true” animation=”fade-in-from-bottom” border_type=”simple” column_border_width=”none” column_border_style=”solid” delay=”300″][team_member image_url=”8495″ bio_alt_image_url=”8495″ team_memeber_style=”bio_fullscreen_alt” image_loading=”default” team_member_bio_full_html=”html” name=”Juan Pablo Mej\u00eda Prado”]He served as an associate for the firm Violy, Byorum & Partners LLC based in New York. A member of the Board of Comunican S.A. A graduate of Finance and International Relations of the Universidad Externado in Bogot\u00e1.[\/team_member][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”30px” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” left_padding_desktop=”60″ constrain_group_2=”yes” right_padding_desktop=”60″ left_padding_phone=”0″ constrain_group_6=”yes” right_padding_phone=”0″ text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none” shape_type=””][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” centered_text=”true” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/3″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” enable_animation=”true” animation=”fade-in-from-bottom” border_type=”simple” column_border_width=”none” column_border_style=”solid”][team_member image_url=”8497″ bio_alt_image_url=”8497″ team_memeber_style=”bio_fullscreen_alt” image_loading=”default” team_member_bio_full_html=”html” name=”Diego C\u00f3rdoba Mallarino”]Co-founder and president of Teka Capital. He was president of Valorem and served as an independent investment banker for several years. A member of the Board of Directors of Cine Colombia S.A.S. and Refocosta S.A.S., as well as of the Governing Board of the Universidad de Los Andes.<\/p>\n

    He is a Business Administrator of the Universidad de los Andes in Bogot\u00e1, and pursued an MBA in the Instituto de la Empresa, in Madrid.[\/team_member][\/vc_column][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” centered_text=”true” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/3″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” enable_animation=”true” animation=”fade-in-from-bottom” border_type=”simple” column_border_width=”none” column_border_style=”solid” delay=”150″][team_member image_url=”9946″ bio_alt_image_url=”9946″ team_memeber_style=”bio_fullscreen_alt” image_loading=”default” team_member_bio_full_html=”html” name=”Catalina Crane Arango”]She is a member of the Steering Committee and the Board of Governors of the Universidad de los Andes. She is also a member of the Board of BTG Pactual Bank in Colombia.<\/p>\n

    She has extensive experience combining high-impact responsibilities in both the private and public sectors. She has served as Senior Advisor to the President for Public and Private Management, as well as Coordinator of Relations with the OECD. She was President of Procafecol and Financial Manager of the National Federation of Coffee Growers.<\/p>\n

    Previously, she served as Technical Vice Minister of the Ministry of Finance and Public Credit and Director of Institutional Communications at the Banco de la Rep\u00fablica. She served as a researcher for the Buen Gobierno Foundation and Fedesarrollo and as a consultant for the National Planning Department.<\/p>\n

    She holds a degree in Economics from the Universidad de los Andes, a degree in Industrial Engineering from the same university, and a Master’s degree in Public Administration from the Kennedy School of Government at Harvard University.[\/team_member][\/vc_column][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” centered_text=”true” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/3″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” enable_animation=”true” animation=”fade-in-from-bottom” border_type=”simple” column_border_width=”none” column_border_style=”solid” delay=”300″][team_member image_url=”8501″ bio_alt_image_url=”8501″ team_memeber_style=”bio_fullscreen_alt” image_loading=”default” team_member_bio_full_html=”html” name=”Ricardo Obreg\u00f3n Trujillo”]An independent consultant. He has served as president of Carvajal S.A., Procafecol S.A., Bavaria S.A. y Sofasa S.A. He is Chairman of the Board of Directors of the Banco Santander in Colombia and executive president of the Board of Directors of Productos Ramo S.A.<\/p>\n

    He is a graduate of EAFIT and holds a master\u2019s degree in Latin American economic Development from the University of London and an MBA from the Universidad de Los Andes.[\/team_member][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”30px” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” bottom_padding=”60″ left_padding_desktop=”60″ constrain_group_2=”yes” right_padding_desktop=”60″ left_padding_phone=”0″ constrain_group_6=”yes” right_padding_phone=”0″ text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none” shape_type=””][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” centered_text=”true” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/6″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” enable_animation=”true” animation=”fade-in-from-bottom” border_type=”simple” column_border_width=”none” column_border_style=”solid” offset=”vc_hidden-xs”][\/vc_column][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” centered_text=”true” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”2\/6″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” enable_animation=”true” animation=”fade-in-from-bottom” border_type=”simple” column_border_width=”none” column_border_style=”solid” delay=”150″][team_member image_url=”8503″ bio_alt_image_url=”8503″ team_memeber_style=”bio_fullscreen_alt” image_loading=”default” team_member_bio_full_html=”html” name=”Javier Aguirre Nogu\u00e9s”]An independent consultant and investor. He was a member of the Advisory Board of the Blackstone Group and Senior Advisor for Spain and Portugal. Previously, he was president of Valorem S.A.S., IF Holdings, New York, IFB, Miami, Texas; of BIF in New York and Miami and, in the Telef\u00f3nica Group, its president for Chile and a member of its directory in Per\u00fa. He started his professional career as vice-president of I.C.C., New York, executive vice-president at Extebank, NewYork and representative of the Banco Exterior de Espa\u00f1a in New York. Later, he was vice-president of strategy and corporate planning and general director at Extebandes, Spain.<\/p>\n

    He studied Economic Sciences at the Universidad Aut\u00f3noma de Madrid, and Finance and International Business at New York University.[\/team_member][\/vc_column][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” centered_text=”true” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”2\/6″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” enable_animation=”true” animation=”fade-in-from-bottom” border_type=”simple” column_border_width=”none” column_border_style=”solid” delay=”300″][team_member image_url=”8505″ bio_alt_image_url=”8505″ team_memeber_style=”bio_fullscreen_alt” image_loading=”default” team_member_bio_full_html=”html” name=”Juan Carlos Garc\u00eda Ca\u00f1izares”]Previously, he was vice-president of planning and value chain of Bavaria S.A., and founding partner of Estrategias Corporativas, an investment banking firm for Latin America. He is a member of the board of directors of Bavaria, S.A., Valorem, S.A.S., Inmobiliaria Colonial (Spain), and of the Fundaci\u00f3n G\u00e9nesis, among others.<\/p>\n

    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.[\/team_member][\/vc_column][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/6″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid” offset=”vc_hidden-xs”][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” top_padding=”30″ left_padding_desktop=”60″ constrain_group_2=”yes” right_padding_desktop=”60″ left_padding_phone=”0″ constrain_group_6=”yes” right_padding_phone=”0″ text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none” shape_type=””][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_text_separator title=”Administration”][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”30px” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” left_padding_desktop=”60″ constrain_group_2=”yes” right_padding_desktop=”60″ left_padding_phone=”0″ constrain_group_6=”yes” right_padding_phone=”0″ text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none” shape_type=””][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” centered_text=”true” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/3″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” enable_animation=”true” animation=”fade-in-from-bottom” border_type=”simple” column_border_width=”none” column_border_style=”solid”][\/vc_column][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” centered_text=”true” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/3″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” enable_animation=”true” animation=”fade-in-from-bottom” border_type=”simple” column_border_width=”none” column_border_style=”solid” delay=”150″][team_member image_url=”8507″ bio_alt_image_url=”8507″ team_memeber_style=”bio_fullscreen_alt” image_loading=”default” team_member_bio_full_html=”html” name=”Luis Felipe Arrubla Mar\u00edn” job_position=”President of Valorem”]He joined the organization in June 2009 and led the Vice-Presidency of Planning and New Business Development until July 2022, when he assumed the Presidency of the company. He was president of Almagr\u00e1n S.A and finance director of Invernac & C\u00eda. He is a member of the Board of Directors of D1 S.A.S, Cine Colombia S.A.S., Comunican S.A., Canal Clima S.A.S., Refocosta S.A.S., Ditransa S.A., Gases del Caribe S.A., Terranum S.A.S., and Decameron S.A.S.<\/p>\n

    He is a civil engineer from the Univerdad de Los Andes and holds a postgraduate degree in Finance of the same university.[\/team_member][\/vc_column][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” centered_text=”true” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/3″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” enable_animation=”true” animation=”fade-in-from-bottom” border_type=”simple” column_border_width=”none” column_border_style=”solid” delay=”300″][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”30px” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” bottom_padding=”60″ left_padding_desktop=”60″ constrain_group_2=”yes” right_padding_desktop=”60″ left_padding_phone=”0″ constrain_group_6=”yes” right_padding_phone=”0″ text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none” shape_type=””][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” centered_text=”true” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/6″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” enable_animation=”true” animation=”fade-in-from-bottom” border_type=”simple” column_border_width=”none” column_border_style=”solid” offset=”vc_hidden-xs”][\/vc_column][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” centered_text=”true” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”2\/6″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” enable_animation=”true” animation=”fade-in-from-bottom” border_type=”simple” column_border_width=”none” column_border_style=”solid” delay=”150″][team_member image_url=”8509″ bio_alt_image_url=”8509″ team_memeber_style=”bio_fullscreen_alt” image_loading=”default” team_member_bio_full_html=”html” name=”Carlos Rave Var\u00f3n” job_position=”Vice President, Legal and Corporate Affairs”]He is the second alternate of the president of Valorem S.A.S. He joined the organization in July 2017, after serving as Legal and Corporate Affairs vice-president of Team Foods Colombia and Corporate Legal Director of the Organizaci\u00f3n Corona. He is currently a member of the Boards of Directors of Refocosta S.A.S., Ditransa S.A. and Gases del Caribe S.A.<\/p>\n

    He is a lawyer of the Universidad Santo Tom\u00e1s. He has a postgraduate degree in Corporate Law of the Universidad de los Andes.[\/team_member][\/vc_column][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” centered_text=”true” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”2\/6″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” enable_animation=”true” animation=”fade-in-from-bottom” border_type=”simple” column_border_width=”none” column_border_style=”solid” delay=”300″][team_member image_url=”8511″ bio_alt_image_url=”8511″ team_memeber_style=”bio_fullscreen_alt” image_loading=”default” team_member_bio_full_html=”html” name=”Alejandro Arboleda L\u00f3pez” job_position=”Vice President Finance and Administration”]He is the first alternate to the president of Valorem S.A.S. and joined the organization in May 2013. His professional career includes more than twenty-two years of experience in management positions in various companies in the real and financial sectors. He is currently a member of the Boards of Directors of D1 S.A.S., Cine Colombia S.A.S, Organizaci\u00f3n Decameron, Fundaci\u00f3n El Espectador, Terranum GP S.A.S, B Energy S.A.S, Refoenergy Bita S.A.S ESP, Refocosta S.A.S. and Ditransa S.A.<\/p>\n

    He is a graduate of the Colegio de Estudios Superiores de Administraci\u00f3n, CESA. He has a specialization in Corporate Finance from the same university.[\/team_member][\/vc_column][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/6″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid” offset=”vc_hidden-xs”][\/vc_column][\/vc_row][vc_row type=”full_width_background” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” bg_color=”#e7e6e6″ scene_position=”center” top_padding=”90″ left_padding_desktop=”60″ 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    * Corresponds to direct and indirect participation<\/h6>\n[\/vc_column_text][\/vc_column][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/4″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid” offset=”vc_hidden-xs”][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” top_padding=”60″ left_padding_desktop=”60″ constrain_group_2=”yes” right_padding_desktop=”60″ left_padding_phone=”0″ constrain_group_6=”yes” right_padding_phone=”0″ text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” id=”indicators” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none” shape_type=””][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/1″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_custom_heading text=”Main financial indicators” font_container=”tag:h3|text_align:center” use_theme_fonts=”yes”][\/vc_column][\/vc_row][vc_row type=”in_container” full_screen_row_position=”middle” column_margin=”default” column_direction=”default” column_direction_tablet=”default” column_direction_phone=”default” scene_position=”center” text_color=”dark” text_align=”left” row_border_radius=”none” row_border_radius_applies=”bg” overlay_strength=”0.3″ gradient_direction=”left_to_right” shape_divider_position=”bottom” bg_image_animation=”none” shape_type=””][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/4″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid” offset=”vc_hidden-xs”][\/vc_column][vc_column column_padding=”no-extra-padding” column_padding_tablet=”inherit” column_padding_phone=”inherit” column_padding_position=”all” column_element_spacing=”default” background_color_opacity=”1″ background_hover_color_opacity=”1″ column_shadow=”none” column_border_radius=”none” column_link_target=”_self” gradient_direction=”left_to_right” overlay_strength=”0.3″ width=”1\/2″ tablet_width_inherit=”default” tablet_text_alignment=”default” phone_text_alignment=”default” bg_image_animation=”none” border_type=”simple” column_border_width=”none” column_border_style=”solid”][vc_column_text]\n
    \n

    Valorem Group figures as of December 31, 2024.
    \nFigures in millions of dollars.
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    * Gross debt excluding unpaid interest
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