Industry / Colombia
Diplomatic Crisis Hits Share Price Of Food Firms
March 2008 | Industry NewsVenezuela's President Hugo Chavez has threatened to seize the assets of Colombian companies operating in the country as part of the ongoing diplomatic crisis in South America. During a press conference, Chavez asked his ministers to draw up an inventory of Colombian assets in Venezuela and suggested that 'We could nationalise some, take them over, we aren't interested in Colombian investments here.' This threat has hit the share price of several Colombian firms which have interests in Venezuela, including Colombian food producer Grupo Nacional de Chocolates, which owns the Venezuelan meat firm Industrias Alimenticias Hermo
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