Government to sell stakes in 83 companies

The Ministry of Economy and Commerce together with the Public Property Agency between November 16 and 23 will hold outcry auctions on the Moldova Stock Exchange to sell stakes held by the government in 83 companies, Economy & Commerce Minister Igor Dodon told a news conference today. The total value of the securities at their start price will constitute 316.9 million lei, compared with their par value of 241.1 million lei. This is the first auctioning of public property to take place under the terms of the new Law on management and denationalisation of public property, which was adopted in an effort to ensure maximum transparency of the deals in the privatisation process. In 14 of the 83 companies the government holds more than 75 percent of the shares. In 10 of them the stakes range from 75 percent to 51 percent, and in 11 from 51 to 30 percent. In the remaining 48 companies the government owns less than 30 percent. Among the most known companies in which the government will sell its stakes are EuroCreditBank, Carmez, and Orhei -Vit.