MEXICO: Grupo Bimbo sells stake in packaging firm
Mexican baked goods company Grupo Bimbo has said it has sold its 41.8% stake in packaging company Novacel for around US$38m. Bimbo said its partner in the company, Grupo Arteva, had sold its 58.2% stake, reported Dow Jones International News. The two companies sold Novacel for $90m to Pechiney Plastic Packaging.
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