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Economy & Business - August-September 2012 (ISSN 1741-7430)

URUGUAY: Pluna auction crashes

The Uruguayan State was forced to take over the administration of the partly-state-owned airline Pluna SA in mid June, when the Leadgate consortium, which owned 75% of the company, pulled out of the enterprise after refusing to inject cash for capitalisation purposes. In early September the Uruguayan government was forced to cancel an assets firesale when three of the four interested companies walked away from the sale just hours before it was due to take place.

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