Grupo Nutresa, Colombia’s largest food company, has not ruled out nor refuted media speculation of a reported change of ownership.

A raft of publications in Colombia, including La República and El Colombiano, have suggested Nutresa’s majority owner Jamie Gilinski has signed an agreement to transfer ownership to Abu Dhabi-based investor International Holding Co. (IHC).

Banker and billionaire Gilinski acquired an 88% share in meat-to-pasta, ice cream and coffee supplier Nutresa in May after years of chasing a majority holding in the Mont Blanc, Doria and Ranchera brand owner.

Gilinksi acquired the holding from Nutresa shareholders with groups affiliated with Grupo Gilinski, including IHC, the billionaire’s own Nugil investment vehicle, Aflaj Investment, also in Abu Dhabi, and JGDB Holding in Colombia.

La República suggested the transfer has been agreed by Colombia’s market regulator at a price tag of $11bn. Post transaction, Gilinski would retain 12% of Nutresa.

However, a filing yesterday (22 July) with the Colombian Superintendency of Finance read: “Grupo Nutresa SA states that it has no information that allows it to confirm or deny the publications made today regarding a possible change of control of the company.”

IHC, which is chaired by ruling family member HH Sheikh Tahnoon bin Zayed Al Nahyan, the brother of UAE President Sheikh Mohamed bin Zayed Al Nahyan, had not responded to Just Food’s request for comment at the time of writing.

This publication also contacted Medellin-based Nutresa for further comment beyond the regulatory filing but the company declined.

Speculation has been circulating since Gilinski took control of the business in May that he had received interest from potential suitors for the food company.

La República suggested Gilinski would be Nutresa’s board chairman post any deal with IHC, while his son Gabriel would also sit on the director panel.

According to La República, Nutresa owns 46 production plants, with more than half located in Colombia, along with others in the US, Chile, Ecuador, Peru and Malaysia.

Just Food encountered an ‘error’ message when trying to enter the Nutresa website for information on its financial performance. However, La República said the company generated almost $19bn in sales last year and a net profit of more than $720m.