Nationalized in the context of "Demutualization"

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⭐ Core Definition: Nationalized

Nationalization (nationalisation in British English) is the process of transforming privately owned assets into public assets by bringing them under the public ownership of a national government or state. Nationalization contrasts with privatization and with demutualization. When previously nationalized assets are privatized and subsequently returned to public ownership at a later stage, they are said to have undergone renationalization (or deprivatization). Industries often subject to nationalization include telephones, electric power, fossil fuels, iron ore, railways, airlines, media, postal services, banks, and water (sometimes called the commanding heights of the economy), and in many jurisdictions such entities have no history of private ownership.

Nationalization may occur with or without financial compensation to the former owners. Nationalization is distinguished from property redistribution in that the government retains control of nationalized property. Some nationalizations take place when a government seizes property acquired illegally. For example, in 1945 the French government seized the car-maker Renault because its owners had collaborated with the 1940–1944 Nazi occupiers of France.

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Nationalized in the context of Electric utility

An electric utility, or a power company, is a company in the electric power industry (often a public utility) that engages in electricity generation and distribution of electricity for sale generally in a regulated market. Electric utilities are major providers of energy in most countries.

Electric utilities include investor owned, publicly owned, cooperatives, and nationalized entities. They may be engaged in all or only some aspects of the industry. Electricity markets are also considered electric utilities—these entities buy and sell electricity, acting as brokers, but usually do not own or operate generation, transmission, or distribution facilities. Utilities are regulated by local and national authorities.

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Nationalized in the context of Mohammad Reza Pahlavi

Mohammad Reza Pahlavi (Persian: محمدرضا پهلوی [mohæmˈmæd reˈzɒː pæhlæˈviː]) (26 October 1919 – 27 July 1980) was the Shah of Iran from 1941 to 1979. He succeeded his father Reza Shah and ruled the Imperial State of Iran until he was overthrown by the 1979 Islamic Revolution led by Ruhollah Khomeini, which abolished the Iranian monarchy to establish the Islamic Republic of Iran. In 1967, he took the title Shahanshah (lit.'King of Kings'), and also held several others, including Aryamehr (lit.'Light of the Aryans') and Bozorg Arteshtaran (lit.'Grand Army Commander'). He was the second and last ruling monarch of the Pahlavi dynasty.

During World War II, the Anglo-Soviet invasion of Iran forced the abdication of Reza Shah and succession of Mohammad Reza Shah. During his reign, the British-owned oil industry was nationalized by the prime minister Mohammad Mosaddegh, who had support from Iran's national parliament to do so; however, Mosaddegh was overthrown in the 1953 Iranian coup d'état, which was carried out by the Iranian military under the aegis of the United Kingdom and the United States. Subsequently, the Iranian government centralized power under the Shah and brought foreign oil companies back into the country's industry through the Consortium Agreement of 1954.

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Nationalized in the context of Fidel Castro

Fidel Alejandro Castro Ruz (13 August 1926 – 25 November 2016) was a Cuban politician and revolutionary who was the leader of Cuba from 1959 to 2008, serving as prime minister from 1959 to 1976 and president from 1976 to 2008. Ideologically a Marxist–Leninist and Cuban nationalist, he also served as the first secretary of the Communist Party of Cuba from 1965 until 2011. Under his administration, Cuba became a one-party communist state; industry and business were nationalized, and socialist reforms were implemented throughout society.

Born in Birán, the son of a wealthy Spanish farmer, Castro adopted leftist and anti-imperialist ideas while studying law at the University of Havana. After participating in rebellions against right-wing governments in the Dominican Republic and Colombia, he planned the overthrow of Cuban president Fulgencio Batista, launching a failed attack on the Moncada Barracks in 1953. After a year's imprisonment, Castro travelled to Mexico where he formed a revolutionary group, the 26th of July Movement, with his brother, Raúl Castro, and Ernesto "Che" Guevara. Returning to Cuba, Castro took a key role in the Cuban Revolution by leading the Movement in a guerrilla war against Batista's forces from the Sierra Maestra. After Batista's overthrow in 1959, Castro assumed military and political power as Cuba's prime minister. The United States came to oppose Castro's government and unsuccessfully attempted to remove him by assassination, economic embargo, and counter-revolution, including the Bay of Pigs Invasion of 1961. Countering these threats, Castro aligned with the Soviet Union and allowed the Soviets to place nuclear weapons in Cuba, resulting in the Cuban Missile Crisis—a defining incident of the Cold War—in 1962.

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Nationalized in the context of Ny-Ålesund

Ny-Ålesund ("New Ålesund") is a small town in Oscar II Land in the west of the island of Spitsbergen in Svalbard. It is situated on the Brøgger peninsula (Brøggerhalvøya) and on the shore of the bay of Kongsfjorden. The company town is owned and operated by Kings Bay, which provides facilities for permanent research activities by 19 institutions from 11 countries. The town is ultimately owned by the Ministry of Climate and Environment and is not incorporated (i.e. is not recognised as a town by the Norwegian government). Ny-Ålesund has an all-year permanent population of 30 to 35, with the summer population reaching 114. Its facilities include Ny-Ålesund Airport, Hamnerabben, Svalbard Rocket Range, a port and Ny-Ålesund Town and Mine Museum, as well as a number of buildings dedicated to research and environmental monitoring activities. It is the northernmost functional civilian settlement in the world.

The town was founded in 1917 by Peter Brandal and his mining company, Kings Bay Kull Comp. Initially, mining was carried out until 1929, but it was unprofitable for most of the 1920s. A series of air expeditions were launched from Ny-Ålesund towards the North Pole. The company was nationalized in 1933 and the town was used for tourism and as a fishing port. Mining resumed for some months in 1941 and then from 1945. After several fatal incidents occurred including a mining accident on 5 November 1962 that killed 21 miners in what became known as the Kings Bay Affair, mining activity was terminated and Gerhardsen's Third Cabinet resigned. Kongsfjord Telemetry Station opened in 1967 and the town gradually transformed into a research settlement, with the Norwegian Polar Institute having had a year-round presence since 1968. As of 2021, 18 institutions from 11 countries have a more or less permanent presence in Ny-Ålesund – five of them with year-round activity, the remaining are primarily present during the spring-summer-autumn field season.

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Nationalized in the context of Closure of the Suez Canal (1956–1957)

The closure of the Suez Canal from November 1956 to April 1957 was caused by the Second Arab–Israeli war, also known as the Suez Crisis, in 1956. On 26 July 1956 Egyptian president Gamal Abdel Nasser nationalized the Suez Canal from British and French investors who owned the Suez Canal Company, causing Britain and France to devise a military operation with the help of Israel to invade the Egyptian Sinai Peninsula and have British and French paratroopers drop in to protect the Suez Canal, but the objective was to take the canal back. The United States and Soviet Union condemned the invasion and de-escalated the situation by early 1957.

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Nationalized in the context of Singer House

Singer House (Russian: Дом компании «Зингер»), also widely known as the House of the Book (Russian: Дом книги), is a historic building in Saint Petersburg, Russia. It is located at the intersection of Nevsky Prospekt and the Griboyedov Canal, directly opposite the Kazan Cathedral. It is recognized as a historical landmark and has official status as an object of Russian cultural heritage.

The building was constructed in 1902–1904 by the leading Petersburg architect of the time, Pavel Suzor, for the Russian headquarters of the Singer Sewing Machine Company. After the Russian Revolution the house was nationalized and since 1919 used for offices of the editors' houses of various magazines and publishers. The main city bookshop was opened in 1938 and stayed operative even during the World War II.

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