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General Motors says Venezuela illegally seizes auto plant

General Motors says Venezuela illegally seizes auto plant

Thursday, April 20, 2017, 8:31 AM

General Motors (GM.N) said that Venezuelan authorities had illegally seized its plant in the industrial hub of Valencia and vowed to "take all legal actions" to defend its rights. The seizure comes amid a deepening economic crisis in leftist-led Venezuela that has already roiled many U.S. companies. GMV's (General Motors Venezolana) plant was unexpectedly taken by the public authorities, preventing normal operations,company said.
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