Venezuela, Bolivarian Republic of

Venezuela, Bolivarian Republic of

Supermarket takeover

08 Jan 2010

On 17 January 2010, the President of the Bolivarian Republic of Venezuela ordered the expropriation of Éxito, a Colombian-French supermarket chain. Éxito, which opened in Venezuela in 2001, had already passed under temporary Government control shortly after the currency devaluation announced on 8 January led it to mark up prices.

Type:
  • Treatment and operation (Nationalizations and expropriations)
Industry:
  • Services (Wholesale and retail trade)
Inward FDI:
No
Outward FDI:
No
Sources: