Cementos Argos $2.88B Quikrete Cash Windfall vs. Grupo Aval (NYSE: AVAL): Who Leads Colombia's BVC Rally?

Cementos Argos (BVC: CEMARGOS) and parent Grupo Argos are deploying a $2.875 billion cash windfall from Quikrete's $52.50-per-share buyout of Summit Materials into aggressive BVC share buybacks, competing directly against Grupo Aval's (NYSE: AVAL) 9.25% to 10.5% ROAE banking and infrastructure earnings rebound.

Authorized by the Superintendencia Financiera de Colombia (SFC) on the Bolsa de Valores de Colombia (BVC / nuam exchange), monetization of Cementos Argos' 31% stake in Summit Materials brings total U.S. asset proceeds to roughly $4.1 billion. Through the SPRINT program, Grupo Argos (BVC: GRUPOARGOS) and Cementos Argos are repurchasing up to 5% of outstanding shares near COP 13,659 while slashing net leverage to narrow historical holding-company discounts across the MSCI COLCAP index.

Conversely, SEC Form 20-F filings and guidance from Grupo Aval Acciones y Valores S.A. (NYSE: AVAL / BVC: PFAVAL) point to a normalized Return on Average Equity (ROAE) recovery toward 9.25%–10.5% and a ~4.2% Net Interest Margin (NIM), anchored by Banco de Bogotá and Corficolombiana's (BVC: CORFICOLCF) toll-road and energy concessions. Which Colombian equity catalyst offers stronger total returns in 2026: Cementos Argos' $2.88 billion cash buybacks or Grupo Aval's ROAE expansion?