Bolivia Nationalizes Iberdrola SA 's Electricity Companies-Reuters

Reuters reported that on December 29, 2012 Bolivia nationalized two electricity distribution companies owned by Iberdrola SA. The Company will be compensated according to a valuation to be drawn up by an independent arbiter, adding that the measure was aimed at enhancing rural energy services. Iberdrola SA's units are Electropaz, which supplies around 470,000 customers in the cities of La Paz and El Alto; and Elfeo, which supplies approximately 80,000 customers in the city of Oruro. The nationalization also includes two small suppliers owned by the Company, which provide services to the distributors.