Spain announces ambitious sales plan
Article Abstract:
Merrill Lynch, Banco Santander and Argentinaria purchased 6 million shares in Endesa, Spain's state electricity producer, in Nov 1997. The state retains 41.07% of the shares. Planned privatisation proposals will see the coal industry as the only remaining state utility by the year 2000. The government hopes to raise $2 billion with the sale of Argentaria Bank in 1998, while $800 million should come in from the sale of Tabacalera, the state tobacco firm. State owned Iberia airline will be privatised by the end of 1999.
Publication Name: Privatisation International
Subject: Business, international
ISSN: 0961-4206
Year: 1997
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Anticipating bumper crop of deals
Article Abstract:
Worldwide privatization activities increased in value from $89 million in 1996 to $161.2 billion in 1997, with 45% of the total coming from west European deals. The predicted value for 1998 privatization deals is $170 billion, with 55% coming from western Europe. The Spanish government expects to raise $1.52 billion when it sells 29% of Argentaria Bank in Feb 1998. France will continue its policy of privatization, selling 67% of banking activity Credit Industriel et Commercial.
Publication Name: Privatisation International
Subject: Business, international
ISSN: 0961-4206
Year: 1998
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