Rurelec welcomes final leg of arbitration process against Bolivia

Rurelec, an electricity utility which owns and operates power generation capacity in Latin America, has begun the final hearing of its ongoing arbitration against the Plurinational State of Bolivia.

Rurelec, an electricity utility which owns and operates power generation capacity in Latin America, has begun the final hearing of its ongoing arbitration against the Plurinational State of Bolivia.

The arbitration is to decide on the value of the compensation that is due to the company for the expropriation of its controlling share stake in Empresa Guaracachi.

The group said that an independent assessment of the claim has been valued as $142.3m.

Peter Earl, Chief Executive of Rurelec, said: "I am pleased to report that the arbitration process is now nearing its end as we continue to seek full compensation for the loss of Guaracachi.

"We hope that it will now not be long before Bolivia pays the compensation that it owes Rurelec for the nationalisation of Guaracachi to enable the Rurelec group to reinvest in replacement power generation assets in Latin America."

The group's share price leapt 28%to 13.12p by 13:25.

NR

Recommended

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework
Investment strategy

The MoneyWeek Podcast: picking stocks is fun, but you need to do your homework

John Stepek talks to Steve Clapham, investor, analyst and author of The Smart Money Method, about the dangers in picking individual stocks and why you…
8 Apr 2021
BP looks set to return more money to shareholders as it beats expectations
Energy stocks

BP looks set to return more money to shareholders as it beats expectations

Oil major BP is to embark on a share buyback programme after significantly reducing its debts. Saloni Sardana looks at what it means for your portfoli…
6 Apr 2021
Deliveroo has hit the market – but it’s not getting the warmest welcome
UK stockmarkets

Deliveroo has hit the market – but it’s not getting the warmest welcome

Food delivery company Deliveroo made its debut on the stockmarket this morning. But with the share price sliding by 30% straight away, it’s not made t…
31 Mar 2021
Three stocks to buy now that will come back stronger after Covid-19
Share tips

Three stocks to buy now that will come back stronger after Covid-19

Professional investor Ed Wielechowski of Odyssean Capital, chooses three compelling stocks that should thrive in a post-pandemic world.
29 Mar 2021

Most Popular

“Joke” cryptocurrency dogecoin goes to the moon. What’s going on?
Bitcoin

“Joke” cryptocurrency dogecoin goes to the moon. What’s going on?

Dogecoin – a cryptocurrency created as a joke – has risen by more than 9,000% this year alone. Saloni Sardana looks at how something that began as an …
19 Apr 2021
China owns a lot more gold than it’s letting on – and here’s why
Gold

China owns a lot more gold than it’s letting on – and here’s why

In a world awash with money-printing, a currency backed by gold would have great credibility. And China – with designs on the yuan becoming the world’…
21 Apr 2021
Why investment advice could be about to get a lot cheaper
Investment strategy

Why investment advice could be about to get a lot cheaper

Vanguard, the world’s second-biggest asset manager, is launching its own cut-price financial advice service. It’s something the industry badly needs, …
20 Apr 2021