BOGOTA, March 11 (Reuters) - Grupo SURA, Grupo

Argos, Grupo Gilinski and Graystone Holdings have

launched a joint takeover bid to acquire 23.1% of the shares of

Colombia's Grupo Nutresa , the bidding companies said

in a document.

The bid is part of an agreement reached in mid-2023 that

looks to help Grupo Gilinski and its partner International

Holding Company (IHC) to buy at least 87% of Nutresa's shares in

exchange for the partners to exit their stakes in Grupo SURA.

The bidders have offered to buy up to 105,730,373 Nutresa

shares - equivalent to 23.1% of the company - at a price of $12

dollars each, according to an offer booklet published on the

Colombian stock exchange over the weekend.

If the sale is completed the transaction would be worth

some $1.27 billion.

The offer period will run from March 18 until April 3,

according to the booklet.

Once the bid concludes, Grupo SURA and Grupo Argos will

exchange their Nutresa share Grupo Gilinski and Graystone

Holdings, which represents IHC.