Two Ethiopian public enterprises drew bids out of the for nine state owned enterprises offered for privatization by the Privatization and Public Enterprises Supervising Agency (PPESA) on its fourth round tender for the year, Fortune reported.

A 268 Million Birr offer for Weyra Transport was made by Trans Ethiopia PLC., and this was the only offer made to buy Weyra Transport.

There was also an offer made by Elenito Group to buy Ethiopian Minerals Development S.C. but it was rejected on grounds of formality.

Another property which attracted bid was a villa owned by Batu Construction S.C. 12 Million Birr was the highest bid for the property made by Bedria Mohamed. Bedria’s offer was followed by Abate Kone‘s (MD) 11.8 Million Birr. The other offers were made by Hadra Medical Center PLC and Anchinalu Ejigu for 9.5 Million Birr and 7.9 Million Birr respectively.

PPESA is to announce results of the tender in a one month time, Berhane Gebremedihen, chairman of the Agency’s Committee said.

Bahir Dar Textile S.C., Agricultural Mechanization Service Enterprise, Transport Construction Design S.C., Shebele Transport S.C., and Natural Gum Processing & Marketing Enterprise has failed to attract bidders.

From the total nine public enterprises, only three of them that were auctioned for the first time, the other have been on the Agency's auction block multiple times with out successful bids.

PPESA plans to privatize 20 enterprises within the current fiscal year.

Source: Fortune