Avianca Holdings SA’s chairman and controlling shareholder, German Efromovich, is forcing the Colombian airline into a potential deal with United Continental Holdings Inc. that will hurt minority investors, according to a lawsuit filed Tuesday in New York State Supreme Court. Kingsland Holdings, the second-biggest shareholder in Avianca, is suing the Bogota-based air carrier, Efromovich and Chicago-based United, saying they secretly negotiated an $800 million loan and strategic partnership.
Category: South America
What Happened in the Stock Market Today
Greenbrier shares soared 16% following the freight railcar manufacturer’s quarterly earnings announcement. As expected, revenue declined sharply as a contracting industry forced far fewer deliveries.
Venezuelan Jews have started migrating to Israel, but not all…
In the years since Hugo Chavez took office in 1999, well-off Venezuelans left the country, followed by educated professionals, and, most recently, the youth and middle class. Now another marginalized group has begun to head for the exits: Venezuelan Jews, who have in the past moved to the US or Panama but have struggled to do so as Venezuela’s economic drains more of the country’s wealth.
Guyana sugar producers scale down after missing 2016 target
Officials say Guyana’s sugar producers have missed this year’s projections by 56,000 metric tons as they prepare to sell off or shutter industry facilities. Agriculture Minister Noel Holder said Saturday that the state-owned Guyana Sugar Corporation’s production will total 183,000 metric tons.