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Crystallex International Corporation is a Canadian-based gold company with a successful record of developing and operating gold mines in Venezuela and elsewhere in South America
Message: Venezuelan government objects to Cemex share transfer
Anyone here caught selling their Crystallex shares without notifying the government and Chavez will be faced with an objection in writing, I'm calling names
Venezuelan government objects to Cemex share transfer
The Associated Press
Published: June 18, 2008
CARACAS, Venezuela: Venezuela is objecting to cement company Cemex's transfer of shares abroad.
The government is negotiating a takeover of the Venezuelan subsidiary of Mexican company Cemex SAB, which President Hugo Chavez nationalized in April.
State oil company Petroleos de Venezuela SA says Cemex has been selling shares without properly notifying the government.
Cemex spokesman Jorge Perez said on Tuesday that it has "transferred assets" within the company but has not sold them. He declined to comment the objection raised by the state oil company.
Cemex's Venezuelan subsidiary said the issue involves US$355 million in shares it held in cement companies operating in Panama, the Dominican Republic, Trinidad and Tobago and Guadeloupe.
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