Grupo Argos S.A. (BVC:GRUPOARGOS) signed a purchase agreement to acquire 30% stake in OPAIN S.A. from Construcciones El Condor S.A. (BVC:ELCONDOR) for COP 480 billion on November 15, 2016. The transaction consideration of COP 480 billion is payable in two phases, with first payment of COP 240 billion at closing and remaining COP 240 billion in May 2017. Construcciones El Condor S.A. BVC:ELCONDOR) will receive COP 240 billion. The transaction will be financed through the proceeds received from the divestment of portfolio assets of Argos. This transaction, that is subject to the approval of the competent authorities. As of January 20, 2017, fulfilled established conditions and obtained the corresponding authorizations.

Grupo Argos S.A. (BVC:GRUPOARGOS) completed the acquisition of 30% stake in OPAIN S.A. from Construcciones El Condor S.A. (BVC:ELCONDOR) on January 20, 2017. Argos paid0 COP 495 billion for 91,770 shares of OPAIN.