Venezuela nationalizes agriculture land held by British company

Posted on November 13, 2011 • Filed under: Agriculture, Business, Politics, Venezuela

Venezuela’s President Hugo Chavez on Wednesday ordered the “forced acquisition” of the company Agropecuaria Flora, belonging to the British Vestey Group and consists of 290 000 hectares of farming in the country, after a struggle in the form of payment. Chavez read and then signed a decree “on the National Executive authorizes the compulsory acquisition by timely payment just compensation” for this company for a value of 273 million bolivars (63.49 million dollars), at a rally of his party, the PSUV , broadcast on state television VTV. Read Article

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