Gruma's Loss Of Venezuelan Assets Will Dent Revenues

As previously predicted by BMI the seizure of assets belonging to Gruma by the Venezuelan government looks set to be made permanent after the socialist government issued a decree solidifying the takeover. While many investors would have already taken this course of action into account, the company's stock price fell by 7% following the announcement, indicating that some investors had felt there was a chance of the company retaining the operations. While the devaluation of the Venezuelan bolívar has reduced the contribution from Gruma's Venezuelan operations in recent months, the action is still likely to make a significant dent in

To read the full article, please choose one of the following options: