Venezuela’s president is planning to buy assets in Uruguay, according to the local media. Hugo Chávez is considering investing in Pluna, a small Uruguayan airline, through a state-owned Venezuelan airline. Conviasa is mulling over buying Brazilian airline Varig’s 49% stake in the Uruguayan outfit.
Chávez is also poised to invest in Cofac, a Uruguayan credit cooperative. It is thought that Venezuela will invest about $22 million in the savings institution.
Both Uruguayan businesses are struggling and questions have been raised about Chávez’s motivation.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
