hayan nacionalizado
Present perfect subjunctiveellos/ellas/ustedesconjugation ofnacionalizar.

nacionalizar

Una vez que se hayan nacionalizado y reconvertidos sus balances, el Estado tendrá que intervenir para reestructurarlos.
Then the state will have to intervene once it has nationalized the banks and re-denominated their balance sheets, to restructure the banks.
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to frighten