ANNOUNCEMENT 18 Feb 2013In February 2013, the government of Bolivia announced altered domestic business conditions for foreign investors.
NUMBER OF INTERVENTIONS
Supreme Decree No 1494 (Decreto Supremo N? 1494, 18 de febrero de 2013): http://www.lexivox.org/norms/BO-DS-N1494.xhtml
Huffington Post: http://www.huffingtonpost.com/2013/02/18/evo-morales-nationalizes-sabsa_n_2712127.html
Abertis website: http://www.abertis.com/news/var/lang/en/idm/487/ln/3
On February 18, 2013, President Morales of Bolivia announced the nationalisation of the Spanish-owned airport operator company SABSA, which operates the three international airports of Bolivia (Supreme Decree No 1494). The company is accused by President Morales to have made 'an exorbitant profit with a derisory capital input', not respecting its commitment to invest. Abertis, the Spanish company owning SABSA denies those accusations.
The compensation Abertis will get for being expropriated will be decided after an independent audit has taken place.
Spain also protested urging Latin-American governments to respect Spanish investments and threatening that repeated state takeovers of Spanish-owned companies might have negative consequences on diplomatic relations.