BOGOTA, March 11 (Reuters) - Grupo SURA, Grupo Argos, Grupo Gilinski and Graystone Holdings have launched a joint takeover bid to acquire 23.1% of the shares of Colombia's Grupo Nutresa, the bidding companies said in a document.

The bid is part of an agreement reached in mid-2023 to help Grupo Gilinski and its partner International Holding Company (IHC) buy at least 87% of Nutresa's shares in exchange for exiting their stakes in Grupo SURA.

The bidders have offered to buy up to 105,730,373 Nutresa shares, or 23.1% of the company, for $12 dollars each, according to an offer booklet published on the Colombian stock exchange over the weekend.

Nutresa is Colombia's biggest food processor and operates in 14 countries with 47 production plants and a line of restaurants and ice cream parlors.

If the sale is completed, the transaction would be worth some $1.27 billion, and the offer period will run from March 18 until April 3, according to the booklet.

The takeover bid is the latest in a series of moves by Jaime Gilinski - one of Colombia's richest men and owner of Grupo Gilinksi - targeting companies in Grupo Empresarial Antioqueno (GEA), the country's largest conglomerate.

Over the last two years, Grupo Gilinski has launched bids to buy shares in Nutresa, SURA and Argos, taking significant stakes in the process, but agreed to take control of Nutresa in exchange for leaving other GEA firms alone.

On Monday, Colombia's stock exchange reactivated trading in Nutresa shares after their suspension on Feb. 19, prior to the takeover bid.

Once the bid concludes, SURA and Argos will exchange their Nutresa shares with Grupo Gilinski and Graystone, which represents IHC.

Graystone and Grupo Gilinski will retain the shares they acquire in Nutresa and could evaluate possible investments, divestments, or strategic alliances in the future, according to analysts.

Presently, Grupo Gilinski and IHC, which is based in the United Arab Emirates, hold a combined 76.9% of Nutresa shares.

More details for the takeover bid can be found here. (Reporting by Nelson Bocanegra Writing by Oliver Griffin Editing by Chris Reese and Bill Berkrot)