Morales To Purchase Controlling Stake In Four Energy Firms

April 2008 | M&A News Alert

The Bolivian government, led by President Evo Morales of the leftist Movimiento al Socialismo (MAS), set an April 30 deadline for the government to take control of four energy companies. This is another step in the ruling party's energy nationalisation decree of May 1 2006, which granted the state the right to majority-control over all foreign operated energy assets. At that time foreign companies, including France's Total, Spain's RepsolYPF and Brazil's Petrobras, renegotiated their gas contracts with the

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