Bolivia expropriated the subsidiary Abertis and Aena, which manages three airports

The President of Bolivia, Evo Morales. / EFE

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The Bolivian President, Evo Morales, has enacted and has personally read the Decree of nationalization of the actions which the Abertis and Aena Spanish had until this Monday in the company of services of airports in Bolivia society Anonima (Sabsa), responsible for the administration of the international airports of Santa Cruz, La Paz and Cochabamba. From Spain, the Government has warned that it will review its bilateral relations with Bolivia before the succession of interventions "with occupation by the security forces" that the Government has carried out in recent days.

It's the third nationalization that aims a Spanish company in less than ten months in Bolivia. Last December, Morales decreed the expropriation of the four subsidiaries that operates Iberdrola in the Latin American country - two electricity distribution in the regions of La Paz and Oruro, a service company and a manager of investments--alleging that they were paid more than the double of rural consumers. Last may, Morales expropriated Transportadora de Electricidad, from power supply firm. These companies have not yet been offset by the nationalizations.

Morales has nationalized Monday shareholder package "that the TDI company holds Overseas Bolivia, belonging to the Airport Services company led by Abertis SA" and the titles that may possess third, during a ceremony held in this city, in the center of the country. Abertis has 90% of the firm, while the remaining 10% Aena.

The Bolivian Government has reported that the breach of contract has been the main cause of the nationalization. Morales explained that the investment between 2006 and 2022 programme meant 53.4 million dollars. Until 2009 the executed investment should reach $ 26.9 million, and reality shows that did not reach the six million dollars. The benefits of Sabsa between 1997 and 2011 accounted for 20.6 million dollars.

On 31 January the Prosecutor's Office of peace recorded Sabsa offices

The reversal of actions to the Bolivian State repeats the same pattern of nationalization of other Spanish companies in the recent past: is it will hire an independent firm so be responsible for pricing the assets of the company within a period of 180 days and then, negotiations shall be brought to agree on the amount the Government will pay to Abertis and Aena.

The Sabsa in La Paz executives announced to the local press that will immediately leave the management of airport services and will expect to the concession of the service contract is resolved formally. The authorities work, justice and the public prosecutor's Office took control of Sabsa in three Bolivian cities airports. In the specific case of Cochabamba and La Paz was not recorded military presence, in contrast to Santa Cruz, where visited a military unit that monitors activity in the terminal of Viru Viru, according to local radio reports.

The reversal of actions was to be expected. On 31 January the Prosecutor's Office of peace recorded Sabsa offices to remove a magnetic copy of all the supporting documentation to the investment programme for enlargement of the air terminal, the revision of the fulfillment of contracts and the situation of security both in teams and workers of the company.

The extent of the Public Ministry was then a denunciation of the autonomous administration of auxiliary services to air navigation over an alleged breach of investment since 2009 especially in equipment, machinery and safety for workers. The Prosecutor Aldo Ortiz explained that the lack of response to the repeated requests for documentation, formulated Sabsa executives, forced the intervention of their offices to remove magnetic information.

The Union has complained about the high salaries of its executives

Spanish companies raised the Evo Morales Government to invest $ 36 million (24.4 million euros) in its subsidiary in Bolivia to stay in that country. The Manager of Sabsa, Anthony Alicastro, noted that the figure was proposed in negotiations which unfold from 2012 with the Executive to "Reroute" the concession for the management of three main air terminals of this country. That money would be invested in the modernization of airports in La Paz, Cochabamba and Santa Cruz in the next nine years, time that remained to the 25-year concession.

Sabsa workers have received welcomed Monday the expropriation of shares, because there was discontent with the administration of services and had warned that the international airports of Santa Cruz, Cochabamba and La Paz faced problems due to the breach of contract of extension of terminals and equipment renewal.

The Workers Union has complained publicly high wages that its executives perceive. Together with the Ministry of labour authorities exhibited returns that suggests, for example, the salary of the manager Anthony Alicastro Pucinelli which took in March 2012 the sum of approximately 12,700 euros, about eight times more than President Evo Morales, while the company had debt by some 10 million dollars to workersthat they won judgments in Bolivian courts.

Abertis was awarded the management of three airports in the mid-1990s, during the period of capitalization, i.e., the partial privatization of a large number of State-owned enterprises that Morales is recovering since 2006.

Morales has made this announcement at a ceremony in the central city of Cochabamba, where is the headquarters of Sabsa, accompanied by the Vice President of the country, Alvaro García Linera, and the Minister of public works, Vladimir Sánchez.

Finance; Economic; Business

Finance; Economic; Business

Title Post: Bolivia expropriated the subsidiary Abertis and Aena, which manages three airports
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