The Privatization and Public Enterprises Agency of Ethiopia is seeking interested bidders for two of the five enterprises it is offering for privatization.
The two enterprises which have been unable to excite interest from potential buyers are the Hamaressa Edible Oil SC and Batu Construction SC.
The Commercial Printing Press, Caustic Soda Ash SC and Fafa Food Complex Warehouse were the other three companies offered for privatization at the same time.
Fafa food and Caustic Soda attracted a slightly larger bid than that established by PPESA as the minimum bid price.Najib Ababiya offered 7.3 million birr for Fafa with an arrangement to pay 34% immediately and 66% before the completion of acquisitions. The minimum price set by PPESA was 7 million birr.
M.C.C Import Enterprise also raised the minimum of 14.36 million set by PPESA for Caustic Soda slightly offering 14.868 million birr with a payment plan to pay 40% upfront, 35% in six months and the balance within a year.
The offer made for Commercial Printing Press proved to be significantly lower than the 58.726 million birr minimum set by PPESA. The sole bidder for the press, Suba Plc offered just 27 million birr with 50% to paid immediately and the rest to be paid out over five years.
It is likely that PPESA will accept the offer for Fafa and Caustic Soda but the press is likely to stay under public management said Wendafrash Assefa, Head of Public Relations with PPESA.
Source: Ethiopian Herald
