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Three Further Public Enterprises Approved for Privatisation

Those that received final approval were three from the five that attracted bidders during the last offer

Ethiopian Pharmaceutical Manufacturing S.C, Hamaressa Edible Oil S..C and Bekelcha Transport S.C are all switching over to private ownership, following the final approval, by the Privatisation & Public Enterprises Supervising Agency (PPESA), of the offers made for them.

Only three of the five public enterprises that attracted bidders during the financial opening passed the technical evaluation and got the final approval of the Agency.

From the 11 enterprises offered for sale by the PPESA on February 10, 2014, only five attracted bidders. These included the three whose transfer was approved on Friday, March 29, 2014, in addition to Kombolcha Textile S.C. and Caustic Soda S.C.

The Ethiopian Pharmaceutical Manufacturing S.C will go to Medi Tech Ethiopia Plc, which offered 436.6 million Br – exceeding competing bids from Sachem Import & Export Plc, Bak Byte Industrial Plc, Beker General Business Plc and Horn Investment Plc, whose offers ranged from 236 million to 351 million Br.

Tikur Abay Transport S.C’s offer of 325.9 million Br for the purchase of Bekelcha Transport S.C was also approved. Ethio Asian Industries Plc has bought Hamaressa Edible Oil S.C for 50.5 million Br.

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Source: Three Further Public Enterprises Approved for Privatisation

    

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