Bolivia: Government tries to avoid arbitrage in the nationalisation of Fancesa

Bolivia: Government tries to avoid arbitrage in the nationalisation of Fancesa
Published: 09 September 2010

Minister of Legal Defence, Elizabeth Arismendi, should coordinate the actions of the Bolivian government in the aftermath of the nationalisation of the 33.34 per cent stake held by Soboce into the cement company Fancesa. She would seek the harmonising of positions with Soboce prior to any arbitrage. Within 180 days the stake nationalised would be valued by an independent consultancy and paid as indemnification to Soboce, which claims to collect US$80m. Soboce is majority owned by entrepreneur Samuel Doria, which came forward with the sum, and the Mexican cement company Cementos Chihuahua which interest would be back by its home government.