Crystallex International

Bob,

Thanks for clarifying the "direct deal" point.

The Energy Minister Ramirez can hope that the arbitration suit will be withdrawn. As per the swissinfo article:

Holcim signed a memorandum of understanding two months later to sell an 85 per cent stake of its operations for less than market value. No final binding agreement was signed, but the company has finally run out of patience with Venezuela's stalling with no sign of the money being handed over.

It will now take up the matter at the International Centre for Settlement of Investment Disputes (ICSID) in Washington. Holcim said it would now seek "substantially greater" compensation than previously negotiated with Venezuela.

It sure will be interesting how this plays out.

Kenny