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Three Ethiopian Companies Up for Privatization

The Ethiopian Privatization Agency is offering Awash Winery, Commercial Printing Enterprise, and Hammaressa Edible Oil for privatization. The three companies failed to attract bids at previous auctions and are being offered for sale through negotiations.

Parties interested in negotiating for the companies are required to present financial and technical proposals said Wondafrash Assefa head of public relations head at the Privatization & Public Enterprises Supervision Agency (PPESA).

PPESA will consider offers submitted until the 27th of October as per indicative prices that take into account the current performance and future production potential of the companies.

Others companies that are expected to be up for privatization again this year are Gojeb Agriculture, Addis Ababa Ghion Hotel, Gibe I Agricultural, Arbaminch and Hawassa Textile, Bricks Products Processing, Agriculture Equipment and Technical Services amongst others.

PPESA transferred 21 companies to private owners in the last fiscal year. The Agency has sold state owned breweries Meta Abo, Harrar, and Bedele.  Harrar and Bedele were purchased by Amstel- Heineken and Meta Abo is in the process of being transferred to Diageo Plc.

Diageo Plc, concluded the first 30pct down payment for the acquisition of Meta Abo Brewery last week. Diageo will pay the balance, (157.5 million dollars), within three weeks after final talks with PPESA according to sources.

Source: Addis Fortune