Venezuela has taken formal control of its third largest bank, the previously¹ Spanish-owned Banco de Venezuela.

委内瑞拉已经接手国内第三大银行、之前属于西班牙的Banco de Venezuela银行。

Nationalisation is a major policy of Hugo Chavez

The first instalment of a $630m (£387m) price tag（价格标签） was made amid much ceremony in the capital Caracas, with nearly all the shares passing to the government.

The rest of the agreed price of $1.05bn (£645m) for the institution will be paid in October and December.

Both sides have declared themselves to be satisfied with outcome, but for very different reasons.

For Venezuelan President Hugo Chavez, the acquisition（获得，所获之物） of the bank, the country's largest in terms of deposits, is an important addition to the government's financial portfolio（文件夹，证券投资组合）.

It comes quick on the heels of nationalisations in the energy, steel, cement and ceramics²（制陶术） sectors³.

For Spain's Grupo Santander, it has sold Banco de Venezuela to Mr Chavez for significantly more than it bought it for.

The move will be seen as an significant return on their investment amid the global economic crisis.