*** How to Get Rich Quick in Mexico
*** Entrepreneur With Murky Business History
***ROMO Possible Successor of The ‘BRONCO’
By DANTE GONZALEZ / Special to EL UNIVERSO.
San Antonio, TEXAS.- Whom is considered as the successor of JAIME RODRIGUEZ CALDERON, Governor of Nuevo Leon, ALFONSO ROMO, a businessman of Monterrey who has black histories, which tell in your place. Like that which caused the political scandal in 2018, on presidential succession in Mexico.
All Begin, when ‘The Wall Street Journal’ spread information over ALFONSO ROMO, Current of Cabinet Chief of ANDRES MANUEL LOPEZ OBRADOR. The title was: “How to Get Rich Quick in Mexico”.
‘A Top Backer of the front-runner for president has a murky business history’, says The Wall Street Journal who written Mary Anastasia O’Grady. On Feb. 25, 2018.
The Wall Street Journal (WSJ) published an article that talks about alleged manipulation in stock sales, and insider trading to resell a company that would have left it multimillion-dollar dividends to ROMO.
“…As the newspaper recounts in 2002, ROMO was president and CEO of Mexican conglomerate Savia. He was also president and CEO of a company called Seminis, which produced seeds and was 75% owned by Sap and listed on the Nasdaq Stock Exchange in New York.”
“…Seminis grew, but under borrowing pressures; in December 2002, Savia signed a non-binding letter of intent to sell the company to California-based private equity firm Fox Paine: according to sources consulted, Romo saw this as “the best option” to deal with the Seminis’ heavy debt burden.”
“…WSJ then chronicles how the internal process was made to define the price per share up to 50 percent higher than the market price, the day before the publication of the sales letter of intent; in that way only ROMO and its affiliates had to be “permanent shareholders.”
“…At the end of the transaction ROMO and its subsidiaries held at least 41% of the common shares and according to estimates, could have had up to 52% control through the parties acting on their behalf.”
“…But the thing didn’t stay there. Fox Paine’s deal was closed on September 29, 2003, and on January 22, 2005, some 16 months later, ROMO and Fox Paine signed a “merger agreement and plan” with Monsanto; this was valued at 1.5 billion pesos in cash and assumed debt plus a yield bond of up to $125 million payable to a company called Marinet, which according to WSJ sources was owned by ROMO affiliates.”
“…Crossing dates, it is established that ROMO, its affiliates, and Fox Paine began negotiating the sale to Monsanto about a year after buying Seminis: this left them a profit of 950 million, which meant they doubled their money.”
President OBRADOR spoke immediately: “In Meeting with entrepreneurs from Nuevo León. I took the opportunity to express my confidence in ALFONSO ROMO in the face of the malicious story of The Wall Street Journal transmitted tendentiously by Televisa of AZCARRAGA JEAN.”
Now, as Cabinet Chief ROMO to this day, he no longer remembers the campaign promises, which do not translate into facts for the country. As he said: I was going fighting the insecurity. Since it would help to have economic growth in Mexico. Another lie, for the ratings agencies.
Interestingly, who proclaims himself as a Democratic President and which himself boost the criticism, as Mr. OBRADOR reiterates in his press conference at the National Palace, every morning. He creates a hostile environment against the Press that criticizes him.
The PROCESO Magazine of JULIO SCHERER, the Newspaper REFORMA of JUNCO DE LA VEGA and other media are the subject of public ridicule by the President OBRADOR. Because they’ve dared to point out their gross mistakes of the President of the ‘4T’.
“…No One Freaks out that someone criticizes the Press, Radio or TV in Mexico. What seems very strange is that President OBRADOR does not focus on the central or fundamental issues.”
“… And He goes by the tangent. Besides, his arguments have just disqualified the way he sees things. And with that he evades a serious debate, as occurred with PROCESO, recently” in the conference press in National Palace”, think a great majority of Journalists in Mexico.
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