Peru’s Gloria Buys $133.8M Ecudos Shares

Peru’s Gloria Group has purchased 70 percent of shares of sugar mill Ecudos for about $133.8 million.

Peru’s Gloria Group has purchased 70 percent of shares of sugar mill Ecudos for about $133.8 million, The Wall Street Journal reports. The remaining shares of the Ecuadorian company will be sold to small investors and workers.

The shares were sold in an auction. Ecudos was seized by the Ecuadorian government in 2008. The Gloria Group is an industrial conglomerate and has a business presence in Peru, Bolivia, Colombia and Puerto Rico.

Click here for the story from The Wall Street Journal.