1. Venezuela seizes Cemex facilities.
- Subjects
CONSTRUCTION materials ,INTERNATIONAL arbitration ,MERGERS & acquisitions ,CIVIL procedure ,CEMENT industries - Abstract
The article reports that the cement building producer Cemex Sab de CV has threatened arbitration in an ongoing fight against Venezuela's plan to nationalize its cement production operations in the U.S. Cemex submitted a complaint seeking international arbitration with the International Center for Settlement of Investment Disputes. Venezuela has approved a forced acquisition of the shares and property of the Cemex local unit, a day after Oil Minister Rafael Ramirez seized Cemex's facilities.
- Published
- 2008