Gruma, S.A.B. de C.V. (BMV:GRUMA B) made an offer to acquire remaining 14.5% stake in Grupo Industrial Maseca, SAB de CV (BMV:MASECA B) for MXN 3.3 billion.
June 25, 2017
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Gruma, S.A.B. de C.V. (BMV:GRUMA B) made an offer to acquire remaining 14.5% stake in Grupo Industrial Maseca, SAB de CV (BMV:MASECA B) for MXN 3.3 billion in cash on June 26, 2017. Gruma, S.A.B. will acquire 133.2 million ordinary shares at a price of MXN 25 per share. The offer period will be from June 26, 2017 to July 21, 2017. Gruma seeks to delist Grupo Industrial Maseca from the Mexican Stock Exchange. Gruma, S.A.B will use funds from a $250 million (MXN 4.5 billion) revolving credit line to fund the deal. Casa de Bolsa Banorte - Ixe, S.A de C.V. acted as Intermediary agent in the deal.
Gruma, S.A.B. de C.V. is a Mexico-based food holding company. The Company is engaged in corn and flour tortilla production across the world. The Company produces wheat flour and its derivatives, such as flatbreads, wraps, chapatti, and pizza bases plus other food products. Its segments include: Corn flour and packaged tortilla division, which manufactures and distributes approximately 20 varieties of corn flour that are used mainly to produce and distribute different types of tortillas and tortilla chip products in the United States; Corn flour division, which engages principally in the production, distribution and sale of corn flour in Mexico under MASECA brand; and Other segments, which focuses on corn flour, hearts of palm, rice and other products. The Company has operations in the Americas, Europe, Asia and Oceania.
GRUMA, S.A.B. DE C.V. 
