US-based cereal maker Kellogg says it is pulling out of Venezuela because of the economic deterioration in the country.
President Nicolas Maduro, who is standing for re-election, told a rally that he would hand control of the factory over to the workers.
"We've begun judicial proceedings against the business leaders of Kellogg's because their exit is unconstitutional," Mr Maduro told cheering supporters in the central state of Carabobo.
Kellogg is the latest multinational to close or scale back operations in Venezuela, citing strict currency controls, a lack of raw materials and soaring inflation.
President Maduro, who has been in office since 2013, blames Venezuela's problems on an "economic war" being waged by foreign governments and businesses.
To read full article - http://v.duta.us/XLzmFwAA