States speed divestment in Australia

Article Abstract:

Privatizations carried out in Australia include the sale of Pipelines Authority of Australia to Tenneco for $225 million. United Energy is an electric utility scheduled for privatization by Victoria state. Bidders include Electricite de France. The privatization of ANL, a shipping line, by the federal government has encountered obstacles. The government may hold on to a 25% stake due to labor union opposition to the sale. Bank SA and BankWest may also be privatized.

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Australia to sell off rest of CBA

Article Abstract:

A stake of 50.4% held by the federal government of Australia will be privatized. This will be carried out in two stages with the first to take place in 1995-1996 and the second to take place in 1997-1998. The government is under pressure to reduce its deficit and is seeking to run a surplus, aided by selling stakes in banks. A stake of 30.6% in Australian Industry Development Corporation, a merchant bank, has also been announced by the government.

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Power sales in Victoria

Article Abstract:

The Victorian State Govermnent in Australia is planning to hasten the sale of the remaining four power utilities to raise another 3.5 billion Australian dollars before June 1996. The sale of the first regional power distributor, United Energy, raised 1.55 billion Australian dollars, and the State will also receive a further 275 million Australian dollars in lieu of franchises fees.

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