French sell banana boats

Article Abstract:

The French government has laid down a number of conditions for the planned privatisation of shipping concern Compagnie Maritime Generale, for which there are nine bidders. Potential bidders must have capital reserves of at least $5.9 million, must retain their shares for at least two years and must specify their plans for routes. The company has received large amounts of state aid recently, but is expected to return to an operating profit by the end of 1996.

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Paraguay close to launching sales

Article Abstract:

Paraguay is set to kickstart its privatization programme, beginning with distiller and bottler Capasa. Other state companies planned to be sold include river transport company Flomeparsa, steel mill Acepar and the railway. There is believed to have been healthy overseas interest in Capasa. Other planned privatizations include state telephone company Antelco, which could raise some $600 million, and water utility Corposana.

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Argentina's Post held up last month

Article Abstract:

The planned sell off of Encotesa, Argentina's state post office has been best by controversy, with objections to draft legislation for the sale coming from Domingo Cavallo, Finance Minister. He believes that the legislation would strangle competition and create a private monopoly and would be a threat to security.

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