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Insight: GM's judgment day - How two Venezuelan car dealers seized an auto factory

Reuters  |  CARACAS 

By Brian EllsworthCARACAS (Reuters) - Venezuela's government has seized assets from dozens of foreign corporations in nationalizations by the late President Hugo Chavez and the embattled current government of Nicolas Maduro.The man behind the confiscation of General Motors Co's $100 million assembly plant in April is a much more obscure figure: Kaled Kansao, the owner of two long-defunct GM dealerships.Kansao convinced a court to seize the plant as the remedy for a relatively small-time business dispute - over GM's termination of his franchises - that mushroomed into a 17-year court ...

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First Published: Wed, July 12 2017. 10:53 IST