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Gruma buys back stake from ADM
Mexican corn flour processor Gruma has purchased a 23.2 per cent stake of its own stock that was previously held by US agribusiness giant Archer Daniels Midland, part of a $450m deal Gruma announced in a statement yesterday.
In addition to the Gruma stake, the firm bought minority stakes in its units Azteca Milling, Molinera de Mexico and Gruma Venezuela.