Venezuela seizes Smurfit Kappa plot of land

THE Venezuelan government has seized a €500,000 1,500-hectare (3,707 acres) plot of land owned by Smurfit Kappa Group.

While that represents 5% of the Irish packaging group’s land in the country, the raid has raised uncertainty about the group’s future and its shares closed down 8.8%, a drop of 12 cent to €1.18 per share.

Goodbody Stockbrokers yesterday seemed to play down the eucalyptus farm seizure incident.