Valorem S.A. operates in the Business services sector. Valorem SA is Colombia-based holding company primarily engaged in the investment sector. The Company's investments portfolio includes a number of entities active in the industrial, telecommunications, services and entertainment sectors. The Company is a parent of Grupo Valoren, a group which comprises such controlled entities as Agencia de Aduanas Almagran SA, Almacenar SA, Almagran Cargo SA, Almagran SA, Caracol America Production LLC, Caracol TV America Corp, Caracol Television Inc, Caracol Television SA, Compania de Distribucion y Transporte SA, Cine Colombia SA, Comteve Mercadeo y Servicios SAS, Dataifx SAS and Hercules Enterprises Inc, among others. Through its subsidiaries and affiliates, the Company also has operations established in Miami, the United States, and Panama City, Panama. In addition, the Company is a member of Grupo Empresarial Invernac. In
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