Israel announces bank plans

Article Abstract:

The Israeli Treasury has announced MI Holdings, its company in charge of bank privatizations, will complete the sale of a controlling 30 to 53 percent of the government's 59 percent stake in Israeli Discount Bank and all of its remaining stake in Union Bank of Israel in 1999. MI plans several other privatizations, including a public offering to sell a 7.16 percent stake in Bank Hapoalim and a block trade to investment banks that will sell off two to four percent of Bank Leumi, which will remain under state control. Proceeds from the privatizations totaled US$708.6 million in 1998.

Commercial Banking, Asset sales & divestitures, Israel, Government domestic functions, State commercial banks, State Banks, Banking industry, Planning, Mergers, acquisitions and divestments, Israel Discount Bank

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Heavy investor interest in Peru's Luz del Sur

Article Abstract:

The second stage privatisation of the Peruvian electricity distributor Luz del Sur occurred in December 1996. The $165 million offering for the Lima distributor was three times oversubscribed. Small investors in Peru took about 60% of the offering with the remainder going to local and international institutional investors. Peruvian Pres Fujimori has indicated that other privatisation plans will be cut back and three companies will not now be privatised. These may be the water and sewerage utility Sedapal, Petroperu's Talara refinery and some units of the generator Electroperu.

Electric services, Electric Power Distribution, Management, Economic policy, Peru, Luz del Sur

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