VENTURE CAPITAL POST

Tech-savvy Venezuelans looking to bypass dysfunctional economic controls are turning to the bitcoin virtual currency to obtain dollars, make Internet purchases -- and launch a little subversion.

Venezuela announced on Friday the "temporary" takeover of two plants belonging to U.S. cleaning products maker Clorox Co which has left the country because of difficult economic conditions.

Japanese automaker Mitsubishi's (7211.T) subsidiary in Venezuela has halted operations due to a delay in the import of parts for assembly, a union official said on Friday.

Venezuelan bank Banesco has won the bid for a controlling stake in Spanish state-rescued lender NCG Banco through its €1 billion offer. Banesco bet out five other rivals in the auction.

Ireland-based construction and engineering company Kentz has taken over US-based Valerus Field Solutions for USD435 million (EUR316 million) in a deal that will also expose Kentz to Latin American markets.

Russia's No. 2 oil producer Lukoil is looking to put up for sale its 20% stake in a Russian consortium developing a large oil project in Venezuela. Lukoil is in talks with international players after Rosneft offered a price lower than what Lukoil had asked.

The Malaysian state run oil firm informed the Venezuelan government of its withdrawal from the Carabobo-1 oil project.