BOGOTA, (Reuters) – Grupo SURA Colombia’s largest holding company for investment said Monday that they will relaunch their search for a potential strategic partner following the close of a Jaime Gilinski public acquisition.

Gilinski is one of Colombia’s wealthiest men, and also the bank GNB Sudameris’ owner. He wants between 5%-6.25% of shares in the company for $9.88 per share.

This price is almost a quarter higher than the one Gilinski offered in January’s previous acquisition offer. He bought 25% of SURA at $952.5m as part of a series that he has made, which has shaken up the nation’s largest conglomerate GEA.

SURA stopped its search for a partner strategic to meet a passivity requirement that prevents businesses from engaging in actions that might affect a pending purchase offer.

Gonzalo Perez, head of SURA, stated that once the initial offer had been made, the search for a strategic partnership was immediately suspended. He also said, “We’re waiting for a passivity rule” to end so the board and administration can consider long-term possibilities to continue adding knowledge and vision to the organization.”

Munich RE Insurance, a German insurer, is one SURA’s most important investors. Suramericana insurance subsidiary Suramericana has 18.9% ownership.

SURA – which is present in eleven Latin American countries via investments in banks, insurance, pensions food, cement and energy – projects a 10% to 15% increase in its net profits for the year after more than quadrupling profit last year at $388.6 millions.

($1 = 3,910.64 Colombian pesos)