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Home > Privatization Alert - October 2007
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Privatization Alert - October 2007
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Trends
In its semi-annual report Privatization Barometer estimates that the total value of privatizations worldwide for the combined second half of 2006 and first half of 2007 neared US$150 billion, the highest level since 2000. During 2007 (first half), Russia and China raised the most in terms of privatization proceeds amongst emerging markets, followed by Turkey, which raised US$1.85 from the sale of Halkbank. The Economist Intelligence Unit reports that FDI flows into Eastern Europe reached a record level of US$112 billion in 2006 compared with US$77 billion in 2005. That report argues that since privatization has been a prominent driver of the region's FDI performance, and given that in many countries privatization is winding down, weaker FDI flows can be expected in 2007 and beyond.
Status and upcoming transactions
Europe and Central Asia: Kosovo launched the 28th round of privatizations in July 2007, with a deadline for submitting pre-qualifications of October 10, 2007. Kosovo is also offering for sale the ski resort Brezovica by the end of 2007, and has slated for privatization a bauxite extraction, crushing and stone production company. Serbia is changing the legal framework pertaining to privatization to ensure that bidders with criminal records or under investigation cannot participate in the privatization process. Serbia is also finalizing the privatization plan for Jat Airways, which is to be tendered by the end of 2007. The country's privatization program is expected to come to an end by December 2008. Privatization proceeds in Ukraine reached 1.168 billion Hryvnia in the first five months of 2007. Under Ukraine's privatization program, which is suffering from allegations of lack of transparency, the Odessa Portside Plant, a leading chemical plant, is up for sale. The Mykolayiv shipyard and the Mykolayiv International Airport have also been slated to be privatized. The law of Georgia on State Property Privatization, as well as the regulations on privatization through auction and direct sale, were revised in August 2007. The revisions pave the way for the sale of immovable and movable property owned by Georgian Railway Ltd. Kyrgyzstan has voted in favor of a proposed legislative amendment that will allow the privatization of two sizeable hydropower stations with foreign investor participation. The Czech Republic is planning to offer for sale Prague International Airport in 2008. Turkey's TEKEL's tobacco manufacturing facilities will be offered for sale before the end of the year.
>> Complete list of regional project opportunities
>> Detailed country analysis by region
Sub-Saharan Africa: Rwanda has offered for sale its 75 percent stake in Banque de Kigali, with considerable interest by foreign banks.
>> Complete list of regional project opportunities
>> Detailed country analysis by region
East and South East Asia: Malaysia's Petronas has been awarded the international tender for the privatization of the Calub and Hilala gas fields in Ethiopia. Indonesia's PT Krakatau Steel is slated for partial sale (35 percent) to a strategic investor in 2009.
>> Complete list of regional project opportunities
>> Detailed country analysis by region
Middle East and North Africa: Tunisia has slated for privatization several state-owned enterprises across different sectors. Iran has slated Iran Air and its subsidiary Iran Air Tour for privatization in 2008.
>> Complete list of regional project opportunities
>> Detailed country analysis by region
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