The company Gruma is contemplating the possible divestment of some of its assets, which could be sold within a maximum period of two years, according to statements made by the company in a conversation with analysts, as reported by Axis Negocios. This decision would be made once the resolution of the Cofece plenary becomes final, in case the company exhausts all available legal defenses.
The affected company perceives that the silence surrounding this issue responds to strong pressure from the banking sector, one of the most threatened sectors if the economic regulator intensifies its investigations and antitrust actions. It is mentioned that bankers have requested Cervantes from Gruma to keep a low profile and avoid publicly discussing the issue of monopolies.
Gruma has experienced a significant drop in the value of its shares on the Mexican Stock Exchange (BMV), with a decline of more than 6% on the day the Cofece report was issued. In addition, its most recent financial report reflected a 4.2% reduction in sales for the penultimate quarter of the year, due to price adjustments made in Mexico.
In the dialogue with analysts, Claudia from Gruma revealed that the sale of five of the 18 mills of nixtamalized corn is being considered, following the recommendations of Cofece. This measure has generated concern in private circles of the business sector, who see this action as a warning of possible future allegations against other companies and sectors.
The Business Coordinating Council (CCE) expressed concern regarding the economic regulator's report and interpreted this measure as a strategy in response to the Government's initiative to eliminate autonomous bodies. Despite the concerns raised, the head of the CCE, Francisco Cervantes, did not issue any statement regarding this matter, which was noted by Gruma executives.
Some business leaders have defended Cervantes' stance, arguing that Gruma is not part of the CCE and, therefore, there was no reason for him to comment on the issue. It is worth mentioning that in early October, Cofece accused Gruma of monopolistic practices, raising questions about the timeliness of this action.
