The Ethiopian Privatization and Public Enterprises Supervising Agency has endorsed the proposal offered by Horizon Plantation for the six Limu Coffee Farms. Horizon Plantations made an offer of 1.184 billion birr for the purchase of the six farms and the head office of the Limu Coffee Plantation.
The six farms included in the deal are Soka, Gumer, Cheleleki, Goma I, Goma II and Suntu. The bids for each individual farm ranged 70.9 million birr to 266.6 million birr while Horizon offered 60.4 million birr for the Limu Coffee Plantation Head office.
The agreement according to the bid document will entail Horizon paying 35% up front with the difference to be settled over a period of five years.
Other bids for individual farms were tendered by SA Bageresh which offered 174.1 million birr for Goma II and 186.1 million birr for Goma I and the Head Office while Mulege plc offered 186.1 million birr for Goma I and 20 million birr for the head office.PPESA also approved the bid 10.1 million birr bid offered by Ascu plc for a villa owned by Batu Construction.
The board has decided to put Awash Winery up for another round of bidding and invalidated the 119 million birr bid for Batu Construction offered by the only bidder, Muller Industry plc according to Wondafrash Assefa, Public Relations Head for the privatization agency.
Source: Capital
