December 3

 AFRICA: AN UNTAPPED MARKET (EL UNIVERSAL PP-30-31) ... Many analysts assert that this changing trend could begin soon and that Africa will be the great market of the future. Certain Mexican companies are eyeing that continent to expand their businesses. Bimbo has been present in Morocco since 2016. Cemex acquired the Assuit Cement Company, an industry leader in Egypt. Gruma has been on the African continent since 2010, and today, exports and markets tortillas, wraps, chips, salsas, and food products in both Morocco and South Africa.

December 6

 MEGA BANKMERGER APPROVED (EL HERALDO DE MÉXICO 29) Interacciones and Banorte Shareholders approved the merger of both financial groups, as reported to the Mexican Stock Exchange. The merger will take effect once authorization has been granted by the Mexican government, the shareholders of both banks have adopted the resolutions, and the resolutions have been recorded in the Commercial Register of each bank’s corporate address. Banorte CEOCarlos Hank González is the son of Mexican entrepreneur Carlos Hank Rhon andGraciela González Moreno. He is also the paternal grandson of Carlos Hank González, a Mexican politician, and the maternal grandson ofRoberto González Barrera, the late Chair of theGrumaBoard of Directors and President of Grupo Financiero Banorte.

December 18

  TRENDS. (EL ECONOMISTA p. 7)GRUMA. Last week, corn flour producerGrumashares were up 0.8%. Prices rose from MXN 243.94 to 244.87 per share for the second week in a row.

December 19

  INCREASE IN GRUMA TARGET PRICE. (EL ECONOMISTA 5) (EL ECONOMISTA ONLINE 0) Banco Santander stock market analysts estimate a target price forGruma shares of MXN 310 for the next 12 months. The share price is currently MXN 249.78 and is expected to increase by 24.11%. Specialists at the Spanish bank recommend the purchase ofGruma certificates based on the expansion of its consolidated operational flow margin (EBITDA) of 90 base points over the next three years. “Gruma continues to be one of the sector’s favorite shares, since the recent correction has made its valuation even more attractive, considering that the company remains defensive due to its exposure in the United States,” according to the Santander written analysis.

TAX REFORM IN USA WILL BENEFIT JUAN GONZÁLEZ’S GRUMA. (THE ONLINE PRESS 0) The planned Tax Reform in the United States will not putGruma, the Mexican company headed byJuan González Moreno, at any risk. Experts note that the company receives most of its revenue from that country. José Besil, President of the Mexican Institute of Public Accountants (IMCP), explained that according to discussions ON the U.S. tax reform, the taxes that companies pay would drop to 20%, from the current 35% rate. This change, far from affecting companies with operations in the U.S., such asGruma, which has several production plants in the United States, benefits them by reducing their tax burden.

December 24

 YEARBOOK / MAY. (EL HERALDO DE MÉXICO 1-8)Gruma President and CEO Juan González Morenoreceived the 2017 Good Neighbor Award from the U.S. Chamber of Commerce.

December 26

  JESÚS RANGEL / TUG OF WAR. (MILENIO DIARIO 20) The United States Securities and Exchange Commission (SEC) announced guidance for companies traded on the stock exchange, auditors, and others to guarantee the timely and public disclosure of the accounting impact of the Tax Cuts and Jobs Act signed into law by President Donald Trump. Mexican companies, including América Móvil, Cemex, Femsa, Gruma, Grupo Aeroportuario del Sureste, Petróleos Mexicanos, Televisa, Telmex, and TV Azteca, must file their reports on the impact on the new tax laws using SEC Form 8-K. The SEC Director of the Division of Corporation Finance Bill Hinman observed that “this guidance recognizes that investors demand and deserve high-quality information, while also recognizing that entities may face challenges in accounting for one of the most comprehensive changes to the U.S. federal tax code since 19