Bolivia President Announces Full Nationalization of Pipeline Company Transedes

President Evo Morales says he is nationalizing all assets of the gas pipeline company Transredes, which had been half-owned by Royal Dutch Shell PLC and Houston-based Ashmore Energy International.

Morales says the current majority owners had failed to agree on terms to sell a majority stake to the government's own company — as he ordered on May 1.

Morales said Monday that the government will now take over full ownership of Transredes SA, which transports Bolivia's natural gas. Terms of the nationalization were not announced.