Colombia's El Tiempo Newspaper Bought By Billionaire Sarmiento

Posted Friday, April 20, 2012 8:06 am

By: Dan Molinski | Dow Jones Newswires

BOGOTA (Dow Jones)--Colombia's richest person, Luis Carlos Sarmiento, has finalized his purchase of the country's leading newspaper El Tiempo, according to a statement from his firm, Organizacion Luis Carlos Sarmiento Angulo Ltd., or OLCSAL.

The organization run by 79-year-old Sarmiento, who made his fortune first in construction and then also banking and is ranked no. 64 on the Forbes list of billionaires, on Thursday completed a 55% stake purchase in the El Tiempo media group from Spanish multimedia firm Grupo Planeta, the statement said.

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Colombia's El Tiempo Newspaper Bought By Billionaire Sarmiento

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