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© general motors Business | April 20, 2017

GM facility seized by Venezuelan authorities

General Motors will immediately halt operations in Venezuela after its manufacturing facility in the country was unexpectedly seized by authorities.
The US-based automobile company is cited in various media reports in saying that 'the seizure showed a total disregard of its legal rights and that authorities had removed assets including cars from company facilities'.

The company will immediately cease operations in Venezuela and pay separation benefits to the workers according to Venezuelan law.

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June 25 2017 8:55 PM V8.5.5-1