Paraguay eyes Acepar nationalization, output stops

[Judi Lynn]

1. Same Colo. Party legislature blocked attempts to do this during Lugo's Presidency.

Lawmakers reject bill to nationalize Acepar
By Harvey Beltrán - Friday, May 15, 2009

Paraguay's lower house voted down a bill to return local steelmaker Acepar to state control, a house advisor told BNamericas.

"Although a majority of congress agrees that the company has violated several parts of the privatization agreement, the final vote fell in the company's favor," the advisor said.

Of the lawmakers that voted, 20 were in favor of annulling the law that had privatized the company so it can revert back to the state, but the other 40 voted against the bill, the advisor said.

The vote officially quashes the bill that also proposed opening a tender to sell 49% of Acepar's shares to a new party.

The decision was made despite previous reports stating the house had already attained a majority in favor of nationalization and had moved on to discuss how to do so.

More:
http://www.bnamericas.com/news/privatization/Lawmakers_reject_bill_to_nationalize_Acepar1