Argos Ups Stake in Colinversiones

Colombia’s Inversiones Argos says it has increased its stake in energy holding company Colinversiones by 15.3% to 44%. The investment company acquired more than 11m shares for a total of $118m. Argos says it has been raising its stake in Colinversiones ever since the company changed its strategy and began investing in energy generation projects. Argos has a majority stake in Cementos Argos and says it aims to diversify risk by boosting participation in Colinversiones.