Participation of foreign capital in public or private legal persons entering into joint ventures with the Public Services Company of Heredia (ESPH) is limited to a maximum of 49% of the capital stock.
"ARTICLE 1.- The Public Services Company of Heredia is transformed into a public utility company with an indefinite term, called Public Services Company of Heredia Sociedad Anónima, whose name may be abbreviated Empresa de Servicios Públicos de Heredia SA, hereinafter, the Company .
The registered office of the Company will be the city of Heredia.
[...]
ARTICLE 15.- The Company is empowered to establish strategic alliances with persons of public or private law, provided that the latter have at least fifty-one percent (51%) of Costa Rican capital and their foreign participants have recognized technical and moral prestige. by the National University, with the purpose of financing, investing and developing the necessary projects to provide the services that have been entrusted to it. When the alliance with public law entities is established, no type of contest will be required; However, if it is carried out with private law persons, the Company will determine regulatory procedures that comply with the principles of publicity, equal opportunities, free competition and reasoned resolution.
Likewise, for the fulfillment of its purposes, the Company may acquire by any title; movable or immovable property, real or personal rights, you may also mortgage, lease, lease, pledge in any other way or possess and dispose of them. In addition, it may grant guarantees, provided that it obtains some economic benefit from this, it may confer powers when it suits the interests of the company and establish trusts.[...]" (Law no. 7789 on the Transformation of the Public Services Company of Heredia ESPH (04/30/1998), last amended by Law no. 8660 of 08/08/2008, Articles 1 and 15 [google translation])
Law no. 7789 on the Transformation of the Public Services Company of Heredia ESPH (04/30/1998), last amended by Law no. 8660 of 08/08/2008, Articles 1 and 15
[<a href="http://www.pgrweb.go.cr/scij/Busqueda/Normativa/Normas/nrm_texto_completo.aspx?param1=NRTC&nValor1=1&nValor2=39919&nValor3=73653&strTipM=TC">Law</a>]