MEXICO CITY Nov 15 The controlling family of
Gruma plans to match a bid from businessman Fernando
Chico Pardo to buy a 23 percent stake in the Mexican corn flour
processor, currently in the hands of U.S. agriculture giant
Archer Daniels Midland.
A spokesman for Carlos Hank Gonzalez, a grandson of Gruma's
late founder Roberto Gonzalez Barrera, told Reuters on Thursday
that the family is putting together a financial plan to match
Chico Pardo's offer, a transaction of around $400 million.
Last month, ADM reached a preliminary deal to sell its stake
in Gruma to Chico Pardo, chairman of the board and shareholder
in Mexican airport operator Asur
Gonzalez Barrera, also chairman emeritus of financial group
Banorte, died in late August at the age
The spokesman said the agreement had been approved by all