Spain announces ambitious sales plan

Article Abstract:

Merrill Lynch, Banco Santander and Argentinaria purchased 6 million shares in Endesa, Spain's state electricity producer, in Nov 1997. The state retains 41.07% of the shares. Planned privatisation proposals will see the coal industry as the only remaining state utility by the year 2000. The government hopes to raise $2 billion with the sale of Argentaria Bank in 1998, while $800 million should come in from the sale of Tabacalera, the state tobacco firm. State owned Iberia airline will be privatised by the end of 1999.

Securities, Spain, Endesa S.A., Iberia Lineas Aereas de Espana S.A.

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Anticipating bumper crop of deals

Article Abstract:

Worldwide privatization activities increased in value from $89 million in 1996 to $161.2 billion in 1997, with 45% of the total coming from west European deals. The predicted value for 1998 privatization deals is $170 billion, with 55% coming from western Europe. The Spanish government expects to raise $1.52 billion when it sells 29% of Argentaria Bank in Feb 1998. France will continue its policy of privatization, selling 67% of banking activity Credit Industriel et Commercial.

Mergers, acquisitions and divestments, Acquisitions and mergers, International aspects, Column, Western Europe, Argentaria Corporacion Bancaria de Espana S.A., Credit Industriel et Commercial

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