CEMEX Caracas Investments B.V. and CEMEX Caracas II Investments B.V., v. The Bolivarian Republic of Venezuela
Dr. Russell Lamb provided a valuation analysis in a matter involving arbitration proceedings between cement manufacturer CEMEX and the Bolivarian Republic of Venezuela, following then-President Hugo Chavez’s decision to nationalize Venezuela’s cement industry.
Dr. Lamb was one of two economists retained by Counsel for the Respondent to calculate the value of the operating assets of CEMEX Venezuela and to determine the value of Claimant’s equity stake in CEMEX Venezuela. Dr. Lamb co-authored an Expert Report concerning this valuation.
In 2011, the parties reached a settlement in the amount of $600 million.