Modest progress in Venezuela
Article Abstract:
Venezuela's privatzation program is progressing slowly. The government has sold a 41.39% stake in Industria Lactea Venezolana (Indulac) to Paramalat from Italy. This deal follows 18 months' negotiations. Some privatizations may be delayed, such as those planned for the electricity industry. The government has yet to set up a regulatory framework which is needed for privatization to be carried out. The government also plans to sell a stake in CANTV, the telephone company.
Publication Name: Privatisation International
Subject: Business, international
ISSN: 0961-4206
Year: 1995
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Venezuelan plans clear first hurdles
Article Abstract:
The Venezuelan cabinet has approved a decree that will allow the government to move forward with divestment of subsidiaries of the Venezuelan guayana Corp (CVG), a major state industrial holding company. Congress has also passed a reform to the existing Privatisation Law which will allow the use of privatisation revenues in the same year they are raised, and allows the entire amount to be used for debt payments.
Publication Name: Privatisation International
Subject: Business, international
ISSN: 0961-4206
Year: 1995
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Venezuela's heavy industries for sale
Article Abstract:
The Venezuelan government is planning the sale of key heavy industries belonging to the state run Corporacion Venezolana de Guayana (CVG). Four aluminium companies will the first to be privatised in early 1996, followed by Sidor, a steel producer and Fesilven, a ferrosilicon company. The aluminium group is valued at between $1.5 billion and $2.5 billion, but their consolidated debts amount to $1.5 billion.
Publication Name: Privatisation International
Subject: Business, international
ISSN: 0961-4206
Year: 1995
User Contributions:
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