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Venezuela’s Chavez expropriates 290.000 hectares from the UK Vestey Group

Tuesday, November 1st 2011 - 05:03 UTC
Full article 4 comments

Venezuela’s Hugo Chavez has ordered the expropriation of 290.000 hectares (716.590 acres) belonging to a British-owned company amid a disagreement over compensation for earlier takeovers of ranchland from the firm. Read full article


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  • briton

    perhaps all british companies should withdraw from his country .
    then they have no complaint ?

    Nov 01st, 2011 - 05:46 pm - Link - Report abuse 0
  • xbarilox

    @ 1 wow, scary burrrrp

    Nov 01st, 2011 - 08:18 pm - Link - Report abuse 0
  • Kirk Nelson

    VEF is not an international currency for transactions, the USD is.

    On the other hand, Venezuela does not have 18 Billion USD on cash to pay to the Brithis Company not even making withdrawal form the national reserve account, because it will reduce the country's balance sheet sustantialy thus leaving the country with almost no currency to pay its bills regarding the fact that Venezuela utilize the Euro instead of the USD.

    Of course the best and only reference is the contract itself, which does determine the compensation currency.

    Kirk Nelson,
    New York, USA

    1 USD=4.3VEF
    1 Acre= 2,500 UDS

    Nov 02nd, 2011 - 02:05 am - Link - Report abuse 0
  • briton

    is not Venezuela well of, does she not have lots of oil,
    or are we misunderstood, ?

    xmouth grow up, without foreign investment your own country would still be more backward than you .silly boy.

    Nov 02nd, 2011 - 06:59 pm - Link - Report abuse 0

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