Grupo Argos Launches US$123 Million Buyback and Turns Odinsa Into an Asset Manager

The infrastructure arm becomes Argos Asset Management, sole asset manager of the holding, while Grupo Argos directly owns the toll road, airport and water stakes Odinsa currently holds. Grupo Argos has launched a programme it calls ACE 1.0, pairing COP$500 billion (about US$123 million) of share buybacks with a restructuring that turns its infrastructure arm Odinsa into the holding’s sole asset manager. The second is the conversion of Odinsa, the group’s infrastructure arm, into Argos Asset Management, which would become the sole asset manager of the holding company. Odinsa Becomes Argos Asset ManagementUnder the plan, Odinsa evolves into Argos Asset Management and becomes the sole asset manager of the holding company. Odinsa, the group’s infrastructure arm, will evolve into Argos Asset Management and become the sole asset manager of the holding company.