Nestle says not against Venezuela nationalisation

VEVEY, Switzerland Feb 21 (Reuters) - Nestle (NESN.VX) does not oppose nationalisation of its operations as threatened this month by Venezuelan President Hugo Chavez, but wants to be adequately compensated for any forced sale, it said on Thursday.

"We are not against nationalisation but want full indemnisation (indemnity)," Chief Executive Peter Brabeck told a news conference.

In the wake of food riots and waning voter support, Chavez earlier this month threatened to expropriate dairy plants belonging to Nestle and Italy's Parmalat (PLT.MI).

"We don't take this as a violation of any law. It is the right of the government. We have to respect this right," Brabeck said. "What we are insisting on very clearly is that we get the right level of indemnisation (indemnity). I have no indication that this would not be the case." (Reporting by Thomas Atkins and Laura MacInnis; Editing by Quentin Bryar)