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Vestey Group wins Venezuela case

26/04/2016
The International Centre for Settlement of Investment Disputes (ICSID) has ruled in favour of cattle company Vestey Group in a dispute with Venezuela.

The Venezuelan government has been order to pay $100 million to the British company after its cattle ranches were forcefully nationalised by Hugo Chávez in 2005.

Vestey Group began operating in Venezuela at the start of the 20th century and has also held large cattle property holdings in numerous countries including Australia and Brazil.

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