Bridgestone Americas has announced that it has reached an agreement to divest its business in Venezuela, Bridgestone Firestone Venezolana C.A. (BFVZ), to the Corimon Group.

This divestiture follows BFVZ deconsolidation in the third quarter of 2015, and a strategic decision to prioritize Bridgestone’s growth and investment in other Latin American markets, according to the company.

Due to the fact that the Venezuela operations were deconsolidated from Bridgestone Americas last year, this divestiture will have no financial impact on the company, according to Bridgestone.

Bridgestone Firestone Venezolana C.A. will now become Alice Neumáticos de Venezuela, a company managed by the Corimon Group, according to the company.