Bulgaria carries out first banking sale

Article Abstract:

The restructuring of Bulgaria's banking industry continues with the privatization of United Bulgarian Bank. Some 99.6% of the company has been sold, for an undisclosed amount, to a consortium that included the European Bank for Reconstruction and Development, US investment company Oppenheimer and Co., and Bulgaria's Bulbank. Other imminent privatizations in the banking sector include Biochim, Expressbank and Hebrosbank. Separately, the environment ministry is discussing the clean-up plans of privatized industrial enterprises, such as MDK's Pirdop copper smelter, with the World Bank.

Bulgaria, United Bulgarian Bank

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Mozambique completes sales in banking sector

Article Abstract:

Banco Popular de Desenvolviment (BPD), the last state-owned bank in Mozambique, has been sold for an estimated $21 million. The government sold 60% of BPD, keeping 20% for itself and 20% for employees. The Zimbabwe government has raised an estimated $43.7 million from the sale of Commercial Bank of Zimbabwe (CBZ), although the government will retain 20% of the share. On another privatization issue, the sell-off of African sugar firms has received backing from the IMF and World Bank, with the sale of Cote d'Ivoire's sugar plant making $41.2 million.

Securities, Zimbabwe, Mozambique, Commercial Bank of Zimbabwe, Banco Popular de Desenvolvimento

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French banking shake-up follows Air France success

Article Abstract:

Anyone interested in taking part in the privatization of Credit Lyonnais bank in France must be industry- linked to them and according to the wishes of the bank's chairman, Jean Peyrelevade, not part of the insurance company Axa or the recently merged BNP-Paribas-Societe Generale. Taking a cue from the success of the Air France offering, the government expects high demand for the offering. France is also working on the privatization of the aerospace company Aerospatiale.

Asset sales & divestitures, Government domestic functions, France, Aircraft & Parts, Aerospace Product and Parts Manufacturing, TRANSPORTATION BY AIR, Air Transportation, Aircraft and Parts, Transportation industry, Aircraft industry, Air transportation industry, Civil aviation, Credit Lyonnais, Air France KLM S.A., Aerospatiale Matra Hautes Technologies

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